Future Assist www.futureassist.com.au is a privately owned financial planning firm with offices located in Sydney, Melbourne, Brisbane and Southport. The company helps everyday Australians to achieve financial security and enjoy a better lifestyle.
Future Assist first came across WealthO2 (then MDA Operator) in May 2016 whilst reviewing its client direct equity offering. In deciding to implement a Managed Discretionary Account (MDA) offering for its clients, the Future Assist Management Team, including Group General Manager Keith Bensley looked at the range of MDA technology options available in Australia.
“There are a number of competent technology providers out there, but a big point of difference with the MDA Operator (now WealthO2) offering was the support and professional expertise. Their offering is an individual HIN model, meaning that clients retain their legal ownership of their investments – something that is looked upon favourably by the regulator,” Mr Bensley said. “Under our MDA client offering, the Future Assist MDA Investment Committee implements and oversees a range of model portfolios, and WealthO2 provides the compliance and operational services, while Future Assist continues to ensure advisory compliance. This was the deciding factor for our business.”
One of the technology’s biggest benefits has been in providing scale to the Future Assist business. “It’s very important to be able to react quickly as clients accumulate surplus funds to invest or as markets change, and that becomes more difficult as your business grows,” said Mr Bensley. “Using WealthO2 we’re able to move very quickly and ensure every portfolio is optimised across a large client base. It’s orderly, process-driven and was made easy to implement through professional support.”