Rebecca Jacques

AGBA invites goals-based advisers to participate in building better software as the industry strives to build better results for consumers and advice businesses that are affected by the legislation changes coming with regards to Limited Managed Discretionary Accounts.

“The industry talk around today’s goals-based systems is that most only solve part of the problem. Many are vertically integrated in other apps and don’t connect to mainstream tools. Those that do exist have been designed by institutions to deliver their version of goals-based advice,” said Rebecca Jacques, AGBA General Manager.

For the independent and non-aligned advice market now is the time to get involved in building their own software solutions or face being left too far behind their aligned and institutionally-owned counterparties.  With the cost of technology continuing to fall, the barriers to building solutions outside of organisations with large balance sheets, has also fallen.  Thus making it achievable for much smaller businesses to work collaboratively in building a goals based engagement and advice platform.

AGBA has begun working with members and innovators to deliver an adviser designed technology framework centred around helping clients and advisers engage better on financial goals across the entire advice process. Importantly, this framework will integrate with mainstream practice CRMs and financial planning tools via an open API. In so doing it will work alongside traditional advice processes allowing advisers and licensees to customise the goals based processes to best suit their clients and their practice.

“Our members are asking for better engagement tools that help clients understand and own the link between their goals, their behaviour and the advice they get. Clients and advisers will jointly explore, track and monitor their goals, dynamically recommend portfolios designed around these goals with connectivity to platform and mainstream FP software for SoA production and CRM updates.

“We plan to have a prototype available to stakeholders shortly, with members using the platform from January 2019. Integration meetings have already started and the response has been very exciting.

“To align this strategy with mainstream technology, we have also begun a 12-month program looking at better efficiencies for XPLAN users who want to be more goals aligned. This will be expanded over time to include other mainstream tools,” said Ms Jacques.

AGBA is working with XPLAN consulting firm PlanFocus on the program to collaborate and implement goals-based customisations for XPLAN. Participating members will receive a fully comprehensive fact find, SoA template and wizard containing some core goals-based design elements, with scheduled updates planned during the year.

Rob Corben, Director of PlanFocus, says that the initial version will contain adjustments to the fact finding process as well as innovative modifications to the wizard and template structure to better align advice strategies with client goals.

“We will also look at including goals based tasks, threads and assumption sets that better support a goals-based approach,” said Mr Corben.

“If the independent marketplace is to remain truly competitive it needs to start owning the development process of important tools and applications.  Our members have been talking and waiting for this development for years. By working collaboratively AGBA members are able to own this development process and ensure that it works for the broader marketplace rather than just one specific organisation.

“At the end of the program, members will have a best practice XPLAN site designed by the expertise of the leading thinkers in goals-based advice,” said Ms Jacques.

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Rebecca Jacques

Ignition Wealth CEO Mark Fordree has announced a groundbreaking development as Ignition Wealth becomes the first Australian ‘robo-adviser’ to offer goals-based investing.

Ignition Wealth has appointed SiResearch to provide adaptive asset allocation built around goals which have a specific objective and timeframe. Traditional risk assessment has focussed on the investor’s long-term goals, often focussing simply on retirement. The goals-based model acknowledges that investors’ goals may fall into several buckets including short term, medium term and legacy.

“In reality an investor’s attitude to risk is influenced by what their goal is and the date by when they want to achieve it. The SiResearch goals-based investment model adds a specific objective and timeframe to an investor’s goals to reflect this” said Mark Fordree, CEO of Ignition Wealth.

Using portfolios created by SiResearch and approved by the Ignition Wealth Investment Committee, Ignition Wealth will soon offer diversified portfolios which include new and emerging offerings such as SMAs, ETFs, Alternative Beta and CPI plus products. All of the asset classes selected by SiResearch will be transparent and executable. The full suite of investment models will be available through Ignition Wealth by the second quarter of 2017, as SiResearch expand the offering and available investments to match the growing demand of the Ignition Wealth client base.

“We are seeing an urgent demand from all of our business sectors including advisers, accountants, superfunds, wealth managers and distribution groups for a truly client-centric investment solution that demonstrates a deeper level of understanding of clients’ investment needs in order to drive engagement.

“The goals-based solution provides a lifetime tool for risk profiling as clients’ goals both evolve and change unexpectedly over time. This client-centric investment model delivers a greatly improved level of client and member engagement for our business partners”, said Richard Liverpool, Head of Sales and Marketing at Ignition Wealth.

Henry Capra, Chairman of the Ignition Wealth Investment Committee welcomed the addition of SiResearch’s innovation to Ignition Wealth’s robust financial research. Ignition Wealth continues to subscribe to leading investment research house Lonsec.

“We are committed to developing the best possible digital financial advice investment solution. Combining trusted information from Lonsec with the very latest breakthroughs in financial research and portfolio creation from SiResearch allows Ignition Wealth to provide the financial services businesses that work with us with a best in class offering”, said Henry Capra, Chairman, Investment Committee at Ignition Wealth.

SiResearch is a new research and investment house, founded in late 2016 by Rebecca Jacques. Rebecca is renowned in the financial services industry as a highly experienced senior investment specialist and known to many through her role as General Manager for the industry body, the Association of Goals Based Advice (AGBA). Rebecca is joined by Tom Cottam as Chief Investment Officer; Tom’s long and illustrious career spans the development and provision of asset allocation and portfolio management at the global institution level and leads to his current standing as one of the most highly regarded experts in the industry.

“Goals-based investing is best suited to the most progressive and innovative of financial services businesses which are inherently consumer-first. Ignition Wealth, as an innovative digital financial advice business, is a perfect fit for the SiResearch pioneering goal-based investment solution.

“It is with great pleasure that SiResearch is able to partner with Ignition Wealth as a leader in the development of professional, institutional grade investment strategies that have previously not been available to the average investor and/or the full advice market due largely to the prohibitive costs and lack of technology with which to implement such strategies at the individual level”, said Rebecca Jacques, CEO of SiResearch.

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Rebecca Jacques

Australian financial advice industry group the Association of Real Return Investment Advisers (ARRIA) has celebrated its two-year milestone, unveiling a series of announcements to take the fast-growing Association forward in 2017.

Yesterday in Sydney ARRIA will hold a roundtable event for adviser and investment industry members to discuss the theme of ‘Client Engagement’ – as well as celebrate the past two years of steady growth for the Association.

At the event, ARRIA will also formally announce a name change to the Association of Goals Based Advice (AGBA) and unveil a revamped website.

ARRIA was founded in late 2014 as a non-profit, financial adviser-led association to represent advisers who were focused on delivering ‘goals-based advice’ – ie advice that aims to give investors more certainty in their investment outcomes. Over the past two years the Association has grown to represent more than 70 active adviser members from more than 34 practices across Australia. In addition, the Association has admitted more than 20 ‘Industry Associates’ across the gamut of related service providers including industry-leading investment managers, platforms, insurance and technology players. AGBA Industry Associates are listed on the AGBA website.

AGBA General Manager Rebecca Jacques said the Association was delighted to reach its two-year milestone and thanked the advisers and industry associates who had supported the Association.

“AGBA delivers practical tools and support for implementing goals based advice, including portfolio construction, data analytics, governance, thought leadership and networking events – all vital elements that help our members tackle today’s difficult markets to deliver meaningful investment outcomes for their clients,” Ms Jacques said.

She said a key driver for the growth of the Association was the rise of managed accounts, which were becoming more popular with individuals wanting more control, transparency and beneficial ownership of their assets.

“While not a new phenomenon, the steady growth of managed accounts has encouraged the industry to tackle regulatory and compliance hurdles, and seen advisers increasingly build more bespoke goals based portfolios for clients that were previously not cost or time effective,” Ms Jacques said.

“We are excited to unveil our new name and website, and look forward to continuing to build our Association for the benefit of advisers, industry associates and, ultimately, end investors.”

AGBA 2017: Bringing it all together

The new look AGBA will also host its first national conference in November 2017 themed AGBA 2017: Bringing it all together. The conference will bring together advisers, dealer groups, investment managers, consultants, research houses, regulators, educators, administrators and other industry professionals that help advisers to implement goals based advice in their businesses.

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Rebecca Jacques

The Association of Real Return Investment Advisers (ARRIA), launched the Pengana Portfolio Optimisation tool as the first system available to its members. This tool is designed to assist advisers in constructing and reviewing client portfolios

“We are pleased to be able to provide this optimisation tool developed by Pengana for the exclusive distribution to ARRIA Members. Such a tool is an important step in assisting advisers to analyse portfolios in more detail and to therefore develop portfolios that are more efficient from risk/return perspective and can deliver real returns to their clients through different market conditions,” said Rebecca Jacques, General Manager, ARRIA.

In addition, ARRIA recently hosted a successful series of its inaugural ‘Meet the Manager Due Diligence Forums’ which saw investment managers, Aurora , Alan Gray and Blue Sky talk in depth about how their funds add value to a portfolio in a real return sense.  The Forum also provides valuable insights into Manager due diligence through the addition of independent asset consultants who question and analyse the Managers presentations as part of an interactive and informative program.

“The importance of correlations and understanding whether a fund is actually a ‘real return’ fund was clearly highlighted by our managers and asset consultants and illustrates the difficulty in being able to truly assess a fund and its impact within a real return portfolio solution.

“Such forums assist advisers in understanding the type of analysis and in-depth scrutiny that it needed to build portfolios which have the ability to deliver real return outcomes for their clients,” said Ms Jacques.

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Philip Reid who took on responsibility as General Manager during the association’s start-up phase will now focus on his business activities and remains a member of ARRIA.

“Rebecca will focus on driving the delivery of information, knowledge, tools, education and resources for advisers to create value and deliver better outcomes for their clients.

“Her first task is our final ARRIA Roundtable series for 2014 which will feature the former van Eyk executives in their new firm Investsense discussing how to build portfolios that are managing the investors risk that they don’t meet their objectives, and in growing member numbers.

“Rebecca is also focusing on the establishment of the ARRIA Investment Application Committee which will road test tools and applications which ARRIA will be able to make available to members.  Dr Jerome Lander from proCapital is a member of this committee and they look forward to showcasing their first tool at the upcoming Roundtable series.

“We are also pleased to announce that Damian Crowley from Pengana has joined the ARRIA Board. Philip Reid stays with ARRIA as a member as he concentrates on his own business activities after a busy period of getting ARRIA started and staging events for members and prospects,” said Matthew Walker, ARRIA Chairman.

Rebecca is a highly experienced senior investment specialist who has worked across investment analysis and research. Her industry experience includes:

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