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Our Passion
Helping Our Clients Grow
We want to know what the world is thinking – where the changes
are, where the energy is and what’s going to drive growth
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The Growth Paradox
Everyone who can do simple mathsknows that the gold rush provided by the baby boom has
peaked and that growth in financial services is going to have to come from somewhere new.
There is no population growth to speak of in Australia and certainly minimal wages and savings
growth so superannuation, funds management and accounting services are all going to have to
look outside natural growth to achieve their targets.
One way to look at this is to examine the intentions of the various market segments, the high
volume-low touch industry funds, the medium service-medium touch retail funds and the high
touch-low volume (by client) private client businesses.
It’s our contention that all of these businesses will start to compete in the same place – starting a
desperate race to the middle for the funds management industry in a move which will slash
margins and turn the entire industry into a scale and volume play.
Added to this is the change to the legislation which insists that every accountant that is going to
give advice must be licensed, which means that accountants are now going to compete head to
head with planners. The unintended outcome of this is that there are 10 times as many
accountants as planners.
As Damon Runyon said when he misquoted Ecclesiastes: the race doesn’talways go to the swift or
the battle to the big battalions – but that’s the way to bet.
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Breaking Up The Market
4
Wholesale Retail
LowTouchHighTouch
High Volume – Low Touch
Low Volume High Touch
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Where Retail Funds Have Lived
6
Wholesale Retail
LowTouchHighTouch
Industry Funds
Retail Funds
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The Arena Of The Private Banks
7
Wholesale Retail
LowTouchHighTouch
Industry Funds
Retail Funds
Family
Offices
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Where The Customer Think Brands Sit
8
Wholesale Retail
LowTouchHighTouch
Industry Funds
Retail Funds
Family
Offices
• Australian Super
• Host Plus
• Rest • BT Super For Life
• AMP Super
• Myer Family Compan
• Financial Wisdom
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The Blue Ocean Spaces Are Occupied
9
Wholesale Retail
LowTouchHighTouch
Industry Funds
Retail Funds
Family
Offices
• Australian Super
• Host Plus
• Rest • BT Super For Life
• AMP Super
• Myer Family Compan
• Financial Wisdom
Online Platforms
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The Ocean Is Red
10
Wholesale Retail
LowTouchHighTouch
Industry Funds
Retail Funds
Family
Offices
• Australian Super
• Host Plus
• Rest • BT Super For Life
• AMP Super
• Myer Family Compan
• Financial Wisdom
Online Platforms
• CommSec
• NAB Wealth
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The Challenge Coming For Retail
11
Wholesale Retail
LowTouchHighTouch
Industry Funds Platform Offerings
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The Challenge Coming for Everyone
12
Wholesale Retail
LowTouchHighTouch
Industry Funds Platform Offerings
Retail Funds
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The Desperate Need For Scale
13
Wholesale Retail
LowTouchHighTouch
Industry Funds Platform Offerings
Retail Funds
Family
Offices
PlatformOfferings
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The Real Blue Ocean
14
Wholesale Retail
LowTouchHighTouch
Industry Funds Platform Offerings
Retail Funds
Family
Offices
PlatformOfferings
THE
Advised
SMSF
Landscape
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Where Planners Sit Now
15
Wholesale Retail
LowTouchHighTouch
Industry Funds Platform Offerings
Retail Funds
Family
Offices
PlatformOfferings
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The Unintended Consequences of FOFA
16
Wholesale Retail
LowTouchHighTouch
Industry Funds Platform Offerings
Retail Funds
Family
Offices
PlatformOfferings
