A Stronger Investment Engine Behind Your Portfolio
and what it means for you
Your portfolio is built on two things: the advice and relationship you have with us, and the investment engine working behind it, the people who research markets, construct the portfolios and manage them day to day.
The first of those is not changing. Your adviser, your financial plan and your investment objectives all stay exactly as they are.
The second is being upgraded. Following a comprehensive review, we have appointed Akambo, a dedicated investment management firm that has been managing portfolios for Australian investors since 2011 and oversees billions of dollars in client assets, as the investment manager behind our managed portfolio solutions.
Why we have made this change
Our decision was driven by a simple question: “Who is best placed to support our clients over the next decade?"
We believe Akambo provides a stronger and more scalable long-term solution for our clients. Some of these key benefits for you include;
• Decisions are made and implemented quickly. Akambo manages portfolios directly rather than advising from the sidelines. When markets move, changes flow through to every client portfolio at the same time, not weeks later.
• Access to investments previously out of reach. This includes direct Australian and international shares held in your own name, specialist managers and institutional-quality solutions, with multi-currency capability for global investing.
• More eyes on your portfolio, all the time. A dedicated investment committee and research team continuously monitor every holding, so your portfolio is reviewed every day, not just at your annual meeting.
• Scale that works in your favour. Akambo’s size gives it genuine negotiating power with fund managers, platforms and administrators, and those savings are passed through to clients.
Understanding the Upcoming Netwealth Notice
In the coming weeks you will receive a Significant Event Notice (SEN) from Netwealth. It will tell you that the investment management fee on your portfolio is increasing. We want you to hear that from us first, and to see it in context, because that fee is only one line in your total cost of investing within your existing portfolio.
The new arrangement reduces other components of your costs, including underlying fund costs and platform and administration fees (savings of up to 20% on administration in some cases). Taken together, we expect your total ongoing cost to be lower once the transition is complete, while the investment capability behind your portfolio is materially stronger.
What You Need to Do
Nothing. The transition will be managed for you over the coming months.
Questions You May Have
Will my portfolio change overnight? No. The transition is staged and managed, and your portfolio remains invested throughout.
Does my risk profile or strategy change? No. Your objectives and risk profile carry across unchanged — the change is to the capability managing within them.
Who do I contact? Your adviser, as always. Nothing about that relationship changes.
We would not make a change of this significance unless we were confident it leaves our clients better off — on capability, on oversight and on total cost. We are happy to be held to that standard, and we welcome your questions.
Thank you for your continued trust.
Kind regards,
The Future Wealth Partners Team
Future Wealth Partners Pty Ltd ABN 92 616 986 175 is a Corporate Authorised Representative of Future Wealth Adviser Australia Pty Ltd ABN 53 536 060 609 AFSL No. 519295. This document is confidential and must not be copied, either in whole or in part or distributed to any other person. The information in this document does not consider your objectives, financial situation or needs. Before acting on this information, recipients should consider whether it is appropriate to their situation. We recommend obtaining personal financial, legal and taxation advice before making any financial investment decision. To the extent permitted by law, none of Future Wealth Partners Pty Ltd, Future Adviser Australia Pty Ltd or any of their related entities accepts any responsibility for errors or misstatements of any nature, irrespective of how these may arise, nor will it be liable for any loss or damage suffered as a result of any reliance on the information included in this document.
