Lifespan expands MDA and adviser support capabilities

Privately-owned financial advice network Lifespan Financial Planning has hired Brian Long as a senior investment specialist for managed accounts.

Long has spent the last 18 months consulting following a stint with industry superannuation fund Rest as retirement segment leader. Long previously held retirement advice consulting roles with NAB and JANA.

While with Mercer, he was the head of wealth management for Australia and New Zealand and headed sales and distribution with BNP Paribas Securities Services and van Eyk.

Lifespan chief Eugene Ardino said Long's appointment helps the organisation increase support for advisers in meeting client needs. "Like Lifespan, Brian believes that there will be significant investment challenges in the future and as a result, advisers may seek to change client portfolios more frequently to respond to increased volatility and to take advantage of new investment opportunities. Clients will also take an increased interest in understanding their investments. A focus on client education will be essential."

Long said that Lifespan's experience with managed discretionary accounts (MDA) made it an attractive place to apply his skills. "One of the reasons I was attracted to Lifespan is that it is one of Australia's most experienced MDA operators, having offered MDAs to advisers and their clients for more than 15 years. Recent times have clearly highlighted the benefits of managed accounts to advice businesses and advisers, particularly when it comes to adapting to market volatility.

"With an MDA, advisers can ensure investment decisions are more quickly implemented across the entirety of a client base to protect portfolios or take advantage of market opportunities. There are of course numerous efficiency benefits that are also gained by using MDA portfolios. The more advisers use MDAs the better it is for their clients and themselves," said Long.