In Australia, at this point in time, nearly all aspects of the wealth management industry have been under a spotlight including wealth management firms and not a positive once since the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has come to light.
From fees for no service, through to charging trailing commissions on deceased peoples accounts, the financial services sector has certainly not passed the ‘pub test’ of late. The wealth management segment was certainly not immune to the scrutiny, allegations or proven misconduct.
According to the Boston Consulting Group, global personal financial wealth grew by 12% in 2017 to $201.9 trillion in US dollar terms. The total was roughly 2.5 times as large as the world’s GDP for the year at $81 trillion.
That is a great deal of money to be managed for individuals across the globe and the wealth management and financial planning segment are the people that manage finances on behalf of those with money to invest.
IBISWorld had revenues in the financial planning and investment advice segment at $4.8 billion in the year to April 2019, while the fund's management services in Australia is estimated at $8 billion.
1. Schedule an appointment (Conference Call) with an Investment Manager
2. Submit a Managed Discretionary Account (MDA) application with Walker Capital Australia.
3. Open a trading account with the Walker Capital Australia’s executing broker.
4. Select from our range of investment strategies and choose your asset allocation between the choices of accounts.
5. Once all accounts are opened, and funds have been chosen, our team gets to work and begins trading.