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July 21, 2011

Russell strengthens adviser offering with new website to support advice practices

SYDNEY, July 21, 2011 - Global investment solutions firm Russell Investments has strengthened its adviser proposition with the launch today of a new, free to access website, “Helping Advisers”, focused on providing practice management and investment research support to advisers adapting to the proposed regulatory reforms.

Russell’s Practice Development Manager, Intermediaries, John Nolan, said Helping Advisers will focus on three key areas including economic and market insights, investment and portfolio strategies and practice management.

“Feedback we received from over 250 advisers in a recent survey said they weren’t looking for support in product related areas but they did want information on the economy and markets, investment strategies and advice on how they could make their practices efficient and profitable. These are the areas we have focused on in Helping Advisers,” Mr Nolan said.

The site includes educational materials focused on business management, operations, human resources and client servicing. It also has social media capabilities including a blog section and links to Twitter and Facebook.

The Helping Advisers site follows the launch of Russell Practice Management (RPM) in May, which is designed to help Australian advisers enhance their advice model and increase practice revenue. Russell has rolled out RPM across the US, Canada and the UK where it has been operating for 10 years. In this time, RPM has boosted revenue in the range of 30 to 100% for financial planning practices over a three-year period, in a climate of declining or steady client numbers.

“We recognise that advisers want to have long-term, deep relationships with their clients but may be lacking the resources to effectively make the changes required. Through the experience of advisers we’ve helped internationally, we’ve brought together a significant amount of information, customised for the Australian market. This content will expand over time and be directed by the needs of advisers who are encouraged to contribute to the site,” he said.

“Given the critical changes that are taking place in the industry, Australia was the logical next location to offer RPM and Helping Advisers. FoFA is the current challenge, but we recognise that as the industry evolves, other issues will come into focus and we’re ready to provide financial advisers with the support they’re looking for in these shifting times,” Mr Nolan concluded.

The Helping Advisers website is free to access and can be viewed at www.helpingadvisers.com.au