fi360 Australasia

fi360 Australasia

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Introducing fiduciaryLINK

fiduciaryLINK™, is a specific programme for Professional Firms and partners in practices (particularly accountants and lawyers) who have fiduciary roles or who wish to uniquely position themselves in response to the growing client demand.

In 2005 a study was undertaken in New Zealand by The Crummer School of Business, Rollins College, (home of Florida’s most Prestigious MBA programme). Now known as the Rollins College Research, it investigated what the affluent investor wanted from their accountants and lawyers particularly those who serve as trustees. The analysis suggested that clients wanted investment services that the professionals were, (as yet) unprepared or unwilling to offer. They highlighted the following opportunities for professionals:

The fiduciaryLINK™, programme provides the training, support and tools to enable firms to expertly support clients by managing the investment process, rather than offering investment advice or becoming embroiled in the facilitation of investment product sales.

The programme provides two stages for clients;
Firstly; an assessment of investment process shortfalls, portfolio “gaps” and an assessment of the confidence a client can have in expected to targeted outcomes.

Secondly; an ongoing enrolment in a tailored programme covering all investment governance issues from performance and supplier monitoring to cost control and knowledge sessions on issues that really make difference. This stage is all about the getting the right things done well.

Clients assume professional firms and partners are “up to date” with knowledge, the ability to scrutinise providers and to comment on portfolio performance issues. The expression; “the current wisdom of our time” sets the minimum bar clients should be able to rely on (as outlined by Geoffrey Clews, Barrister who has authored the legal substantiation for the NZ Edition of the Prudent Investment Handbook). This bar is of course always rising and no more quickly than at present with the tidal wave of scrutiny and disclosure beginning to be demanded by the public.

fi360 (Australasia) Ltd’s responsibility is to provide support to “make it happen”. Our services include;

  1. Supporting your firm to implement and develop your role as Investment Fiduciaries, complimenting your existing professional relationship with clients. The fi360 (Australasia) Ltd team will provide training, liaise with support staff, guide client contact practices, support partners on queries and help develop the initial implementation plan for the firm, to meet your specific requirements.
  2. Providing presentations to clients, assisting your firm to introduce your role and services.
  3. Through fiduciaryLINK™, your firm can provide clients with access to a unique programme of initial assessment and subsequent enrolment addresses the three key components of investment governance; portfolio design and assessing outcome confidence.
  4. Licensed access, training and support for ‘True North’ - a sophisticated client decision making tool that delivers dramatic improvements in investor confidence and a valued, professional investment service to clients.

Your role will include:

  1. Developing a solid understanding of, and initial training in fi360 (Australasia) Ltd practice standards and services, including the Accredited Investment Fiduciary (AIF™) qualification in association with Massey University, and integrating these into your professional practice processes.
  2. Working with fi360 (Australasia) Ltd to develop realistic implementation, in terms of business targets, timeframes and resourcing requirements.
  3. Developing with fi360 (Australasia) Ltd an appropriate charging system to suit your practice, inclusive of fi360 (Australasia) Ltd’s support to any clients.