New Zealand financial advisers benefit from ‘kicking the tyres’ of offshore managers, according to Clayton Coplestone, head of third-party marketing firm, Heathcote Partners.
Coplestone, just back from Heathcote’s inaugural ‘Best of Breed’ Australian tour, said the intensive round of meetings with seven trans-Tasman fund management firms was an eye-opener for the select group of authorised financial advisers (AFAs) who took the trip.
He said the seven managers based in Sydney and Melbourne – including Pengana, Peters Macgregor and Perennial – gave the group of AFAs ‘open door’ access over in-depth three-hour sessions, providing unique insight into their respective investment processes.
“Each meeting was highly analytical in nature and allowed delegates to gain a unique understanding of manager processes and models in managing money,” Coplestone said.
He said the aim was to expose NZ advisers to real-time funds management decision-making, which in turn would help them build confidence – or give them pause to question – in their ultimate product recommendations to clients.
An AFA who joined the ‘Best of Breed’ Australian tour, Peter Church, Moneyworks director, said the opportunity to see a “warts and all” demonstration of the funds’ investment processes was invaluable.
“Any adviser who is giving investment advice should include sessions like these with fund managers as part of their due diligence,” Church said.
The tour also included sessions with four other managers in the Heathcote stable: Premium China; hedge fund, K2; property fund firm, APN; and, risk management overlay specialist, Milliman.
Coplestone said planning for a 2017 sequel tour is already underway.