Select Asset Management (Select AM) embraces partnerships to ensure it is well positioned for upcoming Future of Financial Advice (FOFA) changes.
Select AM chief operating officer and head of fund services Alex Wise said the firm builds its portfolios based on a forward looking model and what market movement they expect over the year.
“We’re pretty well positioned for what we see as another tough year for financial markets of volatility. Our clients are very aware of risk and want to build their portfolios to provide protection against those scenarios,” Mr Wise told InvestorDaily.
“As a group we’re taking these challenges as opportunities. We are partnering with a number of independent dealer groups and financial planners that are looking for a solution that meets the regulatory and compliance framework we’re moving into.
“Through our affiliate of Select Investment Partners, we’ll be providing asset consulting services and responsible entity (RE) services to those dealer groups,” he said.
Despite the challenging market, Mr Wise said Select AM remains optimistic but will continue to position itself and its investment portfolios for the most likely scenario of continued volatility.
Earlier this month Mr Wise said the firm will continue pursuing new opportunities for RE roles following its latest acquisition in December 2012.
“There is nothing in the pipeline at the moment [but] there are a lot of opportunities that are around in the market and, opportunistically, we will look at things,” he said at the time.
In December, Select AM announced the company’s acquisition of Australian financial services business Total Fund Services (TFS) for an undisclosed amount.
TFS, which provides regulatory services to Australian managed investment schemes, acting as a ‘responsible entity for hire’ to registered schemes and similar investment vehicles, was integrated into Select Fund Services (Select FS).
Select AM’s current core focus is to complete on-boarding transactions from the latest acquisition before taking any further steps, Mr Wise said.
