We provide licensee solutions and support to Advisers and Advisory groups seeking a true IFA solution. We support this independent view through the construction of IMA & MDA portfolios - Adviser driven.
Our Dealer Services
Our Dealer Services
AFSL licensing & compliance
A key part of our Dealer Support service is working with practices to ensure their ongoing compliance obligations are met. Our compliance team is responsible for keeping you informed of the impact of new legislation and regulation, helping guide you through what you need to do to stay compliant. This has become a particular focus after the recent FoFA reforms and will continue as legislative amendments and changes will continue in perpetuity. Each month we meet at your offices to run through practice issues that are relevant, with the goal of; streamlining work flow, developing efficiencies and staying on top of training, revenue collection and business development. When you partner with Watershed Dealer Services each practice is visited by an external compliance expert at least once a year, where a formal compliance audit is undertaken. Additionally, an internal compliance audit is conducted by a member of the Watershed team in each alternate half year. We have a dedicated compliance support contact available every day to assist planners with compliance related advice. In addition we also engage Jigsaw Support Services a subsidiary of AMP to independently assess our compliance procedures and provide further support in this area. This gives us the ability to access the resources of one of the largest dealer groups in the country, with a wealth of knowledge at our fingertips. We are confident that our processes and procedures are of the highest standard and are committed to upholding our reputation of honesty and integrity.
Adviser compliance (including BID, FoFA & conflicted remuneration training)
Adviser compliance and training is provided through both a structured training program as well as Adviser requested. Watershed represents the various people, stakeholders and businesses, working together to form a complete solution.
It is no secret that the accounting industry is facing a myriad of legislative and regulatory reforms. From July 2016 the ‘Accountants Exemption’ will be removed which means any accountant without an appropriate AFSL will no longer be able to advise on establishing or winding up an interest in an SMSF. If the fit is right, Watershed Dealer Services is in a position to partner with accounting practices wishing to take advantage of the opportunity to provide SMSF advice by facilitating a limited license, including all of the ongoing support you need to become authorised to provide advice on SMSFs.
Para-planning services, templating & SOA construction
Our Dealer Support team has years of technical financial planning experience and when you partner with Watershed you gain the opportunity to tap into this knowledge. We offer you feedback on your proposed strategies or provide alternative strategy options and can generate projections and comparative modeling which may assist in your final strategy. If you are struggling to stay on-top of the administration burden that goes hand in hand with advising your client’s and do not have time or resources available to write and prepare Statement’s of Advice, or you simply would prefer to concentrate on growing your business, we also provide unsurpassed para-planning services. This includes the preparation of technical advice documents, construction of complex strategies and researching and developing recommendations. If you want to feel confident that your SOA’s are meeting AFSL standards and are of the highest quality then outsourcing this function makes sense.
Technical services/strategy support
Direct access to in-house technical support as well as the ability to access tech services provided by the various groups and organizations associated with our network. In general, our aim is to provide you with the resources and knowledge to implement new technical strategies and to keep your financial industry knowledge up to date, allowing you to better meet your clients’ needs. We currently do this by engaging a number of organizations (not an exhaustive list); Jigsaw, SPAA, Dan Butler, Kaplan, and will continue to source organizations that will bring specialist knowledge to our group.
Revenue collection & reporting
We have implemented Commpay throughout the Dealergroup, which enables the Adviser and Advisory Group to effectively manage their own office from; establishing various remuneration packages, revenue splitting, invoicing, product provider analysis through to reporting on; business performance, profitability and revenue sources to name a few. Serving the needs of IFA’s ensures we’re acutely aware of the importance of flexibility.
Investment Research, access to market events, IPO’s - Institutional Investing. Watershed Funds Management is viewed as an Institutional Investor or Intermediary, and by extension our clients are afforded the benefit of coming under this umbrella. Our research and investment reach is not only extensive, but more importantly – uninhibited. We seek very specific investment solutions for our bespoke portfolios, at the Advisers bequest. You the Adviser know your client. To that affect, Watershed tailors each Client / Advisers’ APL to specifically meet their individual needs. Whether their requirements are; MDA, Derivatives, Gearing, Direct International or even white label solutions, we manage a dynamic APL as ultimately it’s the strategy that’s imperative, not the extent of the quantum of managed funds on the APL. APL’s need to be specific, effective, not expansive. And investment research needs to be held accountable to performance.
MDA – Managed Accounts
Watershed is a holder of an exclusive Managed Discretionary Account (MDA) license issued by ASIC. This license is issued to organisations that ASIC deem to have sufficient professional expertise and experience to manage share portfolios on behalf of their clients. The licensing capability enables the MDA Operator to make portfolio amendments for clients, in accordance with their Investment Program (which stipulates their unique investment objectives) when markets and investments dictate – as opposed to the traditional ‘client review & portfolio change’ process that currently dominates the industry. The MDA relieves the client of the day-to-day decision-making and administration of their portfolio, as well as providing more efficient and timely implementation of changes. The inability to enact changes swiftly in a volatile market can prove very costly. There are a host of other benefits of using an MDA; tax effectiveness, avoiding performance leakage, negating the need for ROA’s, the ability to manage a clients entire portfolio – UMA, particularly important when advising in SMSF’s with the use of property and bare trusts as opposed to portions of a clients portfolio, but essentially, done well, IMA portfolios constructed by professional investment managers under the licensing regime of an MDA – should provide considerable outperformance. MDA’s open up the Advice World.
The directors and owners of the Watershed group have been operating MDA’s since January 2000. Obtaining P.I for MDA operators is becoming increasingly difficult. Our long history and success with operating MDA’s serves us well. We extend our P.I cover to all Advisers and Advisory Groups licensed to us.
Software & CRM solutions
It’s critical in today’s environment that practices embrace technology and utilise operating systems and various software to drive efficiencies through their businesses. Any practice that partners with Watershed Dealer Services will become a user of market leading software (not an exhaustive list);
- Financial Planning – Xplan ‘model office’
- Commissioning – Commpay
- Platform (preferred MDA platforms) – UMASelect, Mason Stevens, Netwealth & IRESS
End-to-end SMSF compliance
The management team of Watershed have been involved in advising in SMSF’s in one form or another since 1994, and more often than not, they incorporated a Managed Discretionary Account – MDA service. We are able to tailor any SMSF service to suit your specific needs, as well as allow those practices who have an existing SMSF service to bring it in to our group.
Professional & business development
As this is not a core competency of ours, we seek external consultants to provide all and any necessary or desired programs or strategy sessions for any Adviser or Advisory group seeking such services. There are a number of industry experts who we feel are better placed to provide such services to our Advisers and Advisory groups, whilst we believe our role is best suited to provide the support to implement the strategic business decisions devised in these sessions. Without any institutional ownership, coupled with an innovative mindset, we’re excited by the opportunity to pursue new business initiatives and opportunities with our business partners.
Marketing & Sales Resources
Putting all the usual industry standard marketing material and sales support aside as a given, we believe our value add is the breadth of knowledge and experience our team has to offer in whatever marketing or sales form you choose to utilise. As way of example, our clients view Watershed as the Investment arm of their business. With that in mind, they determine their market or sales approach, whether it be; for day to day research or one of analysis of a specific investment, help win a client by attending a client appointment, or to host a boardroom luncheon or seminar where an Economic & Market Update would be given to existing and prospective clients. Whatever strategy they wish s to pursue, we’re at their disposal. We’re your resource. We are only too happy to help assist you in growing your business, any way we can.
Ongoing training support
We have a very collaborative mindset and approach to any of our working relationship. With that, we provide constant ‘hands on’ or ‘on the job’ training, from; MDA services, through to the building of Xplan threads & wizards, to all things SMSF (as examples). Having said that, we understand the value of continuing education and not only ensure ongoing educational requirements are met, but seek any opportunity to add value – educational or other, whatever it may be.
Investment Portfolio solutions
Watershed Funds Management was established as an independent boutique Australian investment manager that delivers client-focused investment solutions to; institutions, intermediaries, financial planners and high net worth investors. The basic foundation of our business is to provide our clients with individually tailored investment solutions that are actively managed. Our fundamental goal is to protect and create capital for our clients by delivering on our investment philosophy of taking strategic positions in and out of all assets classes throughout the investment cycle, whilst identifying and holding high quality companies for the medium to long term within each asset class. Our Portfolio Managers and Investment Committees have extensive experience across all asset classes and specialise in the construction of SMA (Separately Managed Account) portfolios that deliver client-focused, investment solutions to; institutions, intermediaries, financial planners, accountants and high net worth investors. Key to their success is the MDA structure, which provides the regulatory ability to actively manage IMA (Individually Managed Account) portfolios directly, efficiently and pro-actively. Our fundamental goal is to create and protect capital for clients by delivering on our investment philosophy. At Watershed we do not simply offer a suite of product but rather work with our clients to deliver solutions tailored to their needs. We appreciate that every business is unique and for us to be able to provide each with the best possible results, we need to have an in-depth understanding of their company and their objectives. We view our relationship with our clients as an on-going collaborative process and believe we have a team with the depth and breadth of experience to construct the quality portfolio solutions you desire, actively and efficiently - via Managed Discretionary Accounts.
Watershed Dealer Services partners with innovative businesses and professional Advisers by providing alternative licensing solutions, outside those offered by the larger, more traditional dealer groups and their suite of mainstream products and services for Advisers and Advisory groups seeking a true IFA solution.
It is no easy task to manage a licensee group in today’s environment. The administrative and legislative requirements are onerous and time consuming. This can limit the time you devote to more fruitful endeavours such as; seeing clients, marketing, and business development.
We encourage you the Adviser to concentrate on building your business, by delivering the complete support, service and tools you require for success – behind the scenes.
We allow you to trade under your own brand, while accessing a range of comprehensive support including, unsurpassed para-planning services (including the drafting of SOA’s), professional development events, investment research, technical support, quality compliance programs and revenue collection.
We strip out the hefty dealer fees common to most larger dealer groups and operate on a ‘user pays’ model. Our pricing structure is not designed to misappropriate your hard earned adviser service fees but focuses more on paying for the services you need, want and use.
We access all the services of the large institutions, and provide them to you on a user pay model.
Watershed Funds Management is a Corporate Authorised Representative No. 123456 of Watershed Dealer Services AFSL No. 436357.