Alex Tullio
Viewpoint with John Billington

Alex Tullio
Head of Advised Sales
IOOF Portfolio Solutions

Welcome to the June Edition of @dviser Magazine.

The 2008-2009 Financial year is now in its final days, and what a year it has been!

As the year draws to a close, it is becoming increasingly clear that more change is on the horizon. Like it or not, it seems our industry is headed for a “fee for service revolution”.

I know many financial advisers who are concerned about the potential implications of these changes. After all, moving to a fee for service model has ramifications on everything from adviser business models, to how fund managers structure products and systems, and everything in between.

Fortunately, at IOOF we’ve been anticipating this move for a long time. We already have a proven product – Pursuit Select – with a highly flexible fee structure that can help you to make a smooth transition to a fee for service model.

Whilst the industry won’t change overnight, and many of you are already moving towards a more fee for service model, there are still many challenges that lie ahead - especially if your practice has done very little fee for service business so far.

Our aim is to assist our advisers as much as possible in this transitionary period. We took the first steps towards a fee for service model back in 2006 with the launch of Pursuit Select, which has made a strong name for itself as a product with a flexible fee for service model and transparent costs for the investor.

Already, Pursuit Select can adapt to the varied needs of different clients and advisers. It can be configured to use upfront, trailing or one-off fee structures – as well as combinations of those. You and your clients are given the freedom and flexibility to choose the most appropriate charging method for the circumstances.

We believe that with the support we can offer you, and with Pursuit Select already established, your move to a fee for service business could end up being very straightforward.

In the meantime, we’re very interested to hear your opinions on this issue, so please feel free to send us your thoughts by email.

For any other concerns or enquiries please contact your Business Development Manager, or call Adviser Services on 1800 659 634.

Kind regards,

Alex Tullio