The Merriam-Webster Dictionary defines the word solution as: the action or process of solving a problem. Using this definition is a helpful way of assessing the benefit of the many investment solutions available to advisers today. Does what's on offer genuinely solve your business problem?
What is the problem?At Dynamic Asset, advisers keep telling us that the time and cost of providing advice keep rising. That increasingly rigorous compliance requires advisers to spend more time constructing statements of advice. That implementation administration is time-consuming and inefficient for the adviser and their clients.
In other words, a lot of time spent does not directly contribute to the value provided to clients. It's a significant direct business cost. There is also an opportunity cost of time lost on growing the business and limiting the business's client capacity.
Therefore, any solution that an adviser implements within the business must allow advisers to:
- Reduce the time and costs involved in providing advice
- Provide simple to understand and compliance-ready outcomes
- Spend less time on implementation and administration
- Provide an equal or superior service level to all clients
Most advisers look to various technologies or platforms and increasingly use simple managed accounts. These are good but insufficient ways to solve the time and efficiency problem. A whole-of-business solution is required.
The solution
An example of a whole-of-business portfolio solution is provided by Dynamic Asset. The solution includes:
- Client-centric portfolios that are built for purpose and are easy to understand
- Integrated technologies to simplify and streamline advice
- Various managed account platforms for ease of implementation
- Dedicated portfolio management specialists and resources
- Detailed reporting for both advisers and their clients to stay fully informed
Importantly, Dynamic Asset also provides a whole-of-client portfolio solution with five individual portfolios that each target specific risk-return targets:
- Wealth Builder
- Wealth Protector
- Mid-Term
- Short-Term
- Cash Plus / Defensive Income
Advisers can access our unique Portfolio Construction Tool to simply and efficiently build bespoke portfolios that meet a range of short, mid and long-term financial goals. The tool enables advisers to provide portfolio solutions that satisfy the very definition of Client Best Interest and therefore provides a robust compliance solution.
Furthermore, the portfolios are implemented using Managed Accounts. This means asset allocation authority is not required once the client has agreed to the portfolio management approach.
The scale and resourcing of Dynamic Asset supports advisers by essentially insourcing specialist skills, knowledge, experience and resources to manage a highly diversified range of assets professionally. These additional resources support advisers by saving significant time in researching the thousands of investment offerings, building portfolios suitable for meeting the challenges ahead, actively managing changes as required, executing trades across all client accounts and providing comprehensive reporting.
Dynamic Asset brings together all the elements an advice firm needs to meet its client's needs in one streamlined and efficient solution, the result of which is a whole-of-business solution for advisers that provides dramatic time and cost savings:
- Time and costs in delivering advice are significantly reduced
- Portfolio allocations are matched to the strategy devised for each client's circumstances and goals for a simple to understand, compliant solution
- Dedicated specialist portfolio management to actively manage diversified portfolios
- Managed accounts to make implementation and ongoing management more straightforward and efficient
- All clients are treated equally, and implementation is done in a timely manner
Dynamic Asset can help
Contact us to learn more about how the Dynamic Asset approach to active portfolio management can support you and your team build a thriving advice business.
