19/12/2023 Feature Articles 5 mins to read Back to all News & Insights

Words that Resonated in 2023

Delivering timely and relevant insights has long been a cornerstone of Praemium's commitment to supporting the Australian advice community. As the year comes to a close, we take a look back at some of our most read pieces of 2023.

The following countdown highlights five articles that resonated strongly with readers over the past 12 months. Spanning topics from navigating economic uncertainty to intergenerational wealth transfer to optimising portfolio construction, these articles provide perspective on key trends and opportunities. From considered analysis on meeting evolving client needs to research unpacking adviser challenges and potential growth areas, these pieces aim to empower advisers to flourish amidst an increasingly complex wealth advice landscape.

Read on for the countdown of Praemium's five most popular articles from the last year.

5. Increasing Need for Wealth Transfer Advice Amongst HNWs

With Australia's HNW individuals poised to transfer over $1.5 trillion to heirs in the coming years, advisers have an unparalleled opportunity supporting legacy planning and guidance for beneficiaries around inheritance management. Yet research shows enduring gaps around estate planning and intergenerational advice amongst this cohort. Advisers that can position themselves as partners in navigating wealth transfer stand to build multigenerational relationships.

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4.Praemium cybersecurity features you should know about

As cyber threats intensify globally, strengthening online security has become imperative for advice businesses seeking to protect client data and assets. This article spotlights key platform features that Praemium offers to help advisers safeguard against breaches. Learn how limiting personal information sharing online and enabling two-factor authentication can thwart potential attacks.By leveraging these practical tips and resources, you can feel more confident your business and your clients' critical information remains secure.

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3. The Evolution of High-Net-Worth Investors

With inflation topping investor concerns, demand for income generation reaching new heights, and portfolios expanding into alternatives as markets test nerves, the world of investing is undergoing a shift and Australia's HNW investors find familiar strategies coming up short. Add intergenerational wealth transfer accelerating to the mix and business as usual no longer cuts it. Tax guidance falls behind, estate planning gaps grow. Even technology fails to deliver the 24/7 integrated digital experience expected.

What now for advisers catering to this moving target segment as old playbooks get torn up?

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2. Understanding the True Cost of Fees on Client Outcomes

Beneath the surface of straightforward platform fee structures lies a complex web of charges that can profoundly impact net returns. Recent analysis by Praemium's Matt van Dijk unpacks how two platforms with nearly identical headline fees could in reality dent the bottom line of a $2M portfolio by over $2,500 per year.

The difference? Failing to accurately assess total costs based on each investor's strategies and behaviors. As advisers strive to discharge best interest duty through optimal platform selection, assumptions here risk hundreds of thousands over time.

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1. Australia’s High-Net-Worth investors are richer but reluctant to take advice for key financial needs, research shows

Over 10,000 new millionaire investors flooded Australia's high net worth ranks in the last year, steering a combined $3 trillion in assets. Yet the majority continue going it alone, struggling to tackle financial planning intricacies from estate guidance to tax minimisation. For specialist firms, huge potential lies in filling gaps with truly customised service. But capturing the opportunity means moving beyond cookie-cutter advice to bespoke strategies answering the unique needs of affluent Australians.

Curious to understand more about Australia's most affluent investors and advice opportunities within this segment?

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