WEEKLY WRAP: PEOPLE, PRODUCTS AND COMPANIES: Pembroke network grows to more than 200 advisers

by |

Pembroke network grows to more than 200 advisers

Godfrey Pembroke has today announced it has reached a major milestone, with the number of financial advice specialists in the network topping 200 for the first time.

Godfrey Pembroke, established in 1981, has also announced that Tasmania-based Collins SBA, an Adviser firm with an Accounting arm, has become the first practice to join the network in 2013 and is the ninth practice to join during the last 12 months.

Peter Smith, general manager of Godfrey Pembroke, said: “2012 was a year of growth for Godfrey Pembroke with a number of quality practices joining the network. I’m delighted to see this trend continue in 2013 with Collins SBA coming on board. For the first time, Godfrey Pembroke now has more 210 financial advice specialists located throughout Australia.

“There are many reasons why practices join Godfrey Pembroke. They are attracted to our leading stance on fees and transparency, our strong practice management capabilities, broad advice model and supportive adviser environment.

First MySuper delivers lower fees for members

The Minister for Financial Services and Superannuation Bill Shorten has welcomed the first MySuper application being authorised by APRA.

“Sunsuper has been authorised to offer a MySuper product from 1 July 2013.  This is a very welcome development because it means lower fees for members,” Shorten said. 

“This first authorisation is further evidence of the Gillard Government delivering on a major superannuation reform commitment made at the last election.” 

From 1 January 2014, only those products that meet the MySuper standards will be able to accept contributions for employees who have not chosen their superannuation fund.

Trustees of MySuper products will have a primary duty to act in the best financial interests of their members.  In addition, the Government will restrict unnecessary or excessive fees by limiting the types of fees that trustees can charge and ensuring MySuper products are commission free.

Macquarie launches SMSF Toolkit

In response to increasing adviser demand for more SMSF education, Macquarie has launched its SMSF Toolkit.

Macquarie’s SMSF Toolkit provides tools and insights to help make SMSF management easier for advisers and provides them with collateral to improve client engagement on what can be a complex topic to understand.

These tools include calculators from Macquarie’s MAStech team, which calculate the benefits of different SMSF scenarios for clients and allow advisers and their clients to better understand the figures of borrowing to invest in property inside and outside of super.

In addition, the MAStech team has provided technical materials to help advisers keep track of superannuation and tax matters, including in depth articles on SMSF lending rules and new regulations.

Information is also provided on the different SMSF solutions available to help advisers select the right product composition for their clients’ SMSFs, outlining the various options including the Macquarie Cash Management Account and the Macquarie SMSF Property Loan.

MLC supports advisers with tailored account strategy

MLC has today announced another key appointment following the introduction of a new strategic account management strategy.

The new strategy, introduced in 2012, ensures both independent advisers and those aligned to MLC get the most appropriate support depending on the location and focus of their business model including specialised service for investments, platforms and insurance.

Damian Holland has been appointed Head of Platform Sales to drive strategy and alignment with the platform product team through to sales support.

Holland has nearly two decades of funds management industry experience, across a range of roles including research, client management, product development and business development, and his experience spans a full spectrum of active, index and multi-manager investing.

Damian’s appointment follows that of Ross Barnwell to the position of Head of Insurance Sales and Chris Clayton to the position of Head of Asset Management Sales last year.

To ensure tailored adviser business support, Aubrey Roga heads Strategic Accounts & IFAs and Michael Downey is in charge of Aligned Accounts.

Geoff Rogers, General Manager MLC Sales, said: “Both the independent and aligned markets are very important to us and we want to support all our advisers as best we can.

AUI makes changes to property team

Australian Unity Investments (AUI) has made changes to its property funds management team following the retirement of head of property, Martin Hession, late last year.

Peter Lambden has been appointed to the role of head of property and asset management, where he will be responsible for reviewing all asset management activities and strategies for AUI’s property funds, and streamlining property and asset management processes across the portfolio.  

Lambden, who joined AUI in 2001, was previously head of diversified property funds.   He has over 40 years experience in property and portfolio management and has held senior property roles with AXA as well as working with both local and federal government.

Mark Lumby, previously head of office and industrial property funds, will now be head of property funds – retail, with responsibility for AUI’s unlisted property funds in the office, retail, and industrial sectors as well as its two diversified property funds. The new role will strengthen AUI’s focus on the retail and intermediated market, where Lumby will work closely with head of healthcare and retirement funds, Chris Smith.

Lumby joined AUI in 2011 from Investa Property Group, when AUI became the responsible entity for the Investa retail property funds. He has over 15 years experience in funds management including working at Stockland and Trafalgar Corporate Group.   Lumby holds a bachelor degree in business from the University of Technology, Sydney.

Global Investment Forum 2013 showcases best of the best

Certitude Global Investments (Certitude) and PortfolioConstruction Forum  have teamed up to bring some of the world’s leading investment managers to Australia and New Zealand for their inaugural, annual Global Investment Forum.

The invitation-only event, targeting the most influential wealth management decision makers in the region, will discuss a range of key global investment strategies and their role in a reducing cash return market in 2013 and beyond.

The visiting lead portfolio managers, from a range of highly rated investment capabilities, will participate in a series of interactive ¾ day programs to be held in in Sydney, Melbourne and Auckland in the first half of March.

Each of the visiting specialists will present a set of key insights and participate in Q&A sessions on a particular asset class. Global Investment Forum speakers include:

  • Stephen Thornber, Threadneedle Investments (UK): Global Equity Income
  • Louis Vincent Gave, Marshall Wace GaveKal (HK): Asian Equities and Fixed Income
  • John Fitzgibbon, Lighthouse Partners (US): Global Multi-Strat Hedge Funds
  • Ethan Baron, Lighthouse Partners (US): Global Equity Long/ Short
  • Thomas Murphy, Columbia Management (US): Credit
  • Adrian Millan, Park Hill (US): Global Private Equity

The invite only events are restricted to 150 participants in Sydney and Melbourne and 75 in Auckland:





Hotel Intercontinental

12 March


Melbourne Conference and Exhibition Centre

14 March


SkyCity Auckland Convention Centre

15 March

Principal Global Investors Economic Outlook 2013

Principal Global Investors have released their Economic Outlook for 2013 examining this year as the third act in a three act story. 

The Outlook explores the devices that will get the global economy moving again; examines the scenarios that they affect; and the principal regions that that hold most sway over global economies - the United States, Europe and Asia. 

The report refers to political uncertainty being the only thing holding back the U.S. economy while citing the many reasons to be optimistic about the U.S. with the recovering housing market, strong corporate balance sheets and record low interest rates.

The European Union is describe as bringing “itself back from the edge of disaster” with some last minute solutions and has made some positive steps to reduce financial turbulence for now, intimating a good start to the year.

Meanwhile, the Outlook expects the economic growth in China to continue to impress, just not at the super-human variety we have seen of the previous decade.