The ASIC report into death benefit claims revealing the devastating impact of poor industry practices on grieving Australians has again highlighted the pressing need for change. While some funds have taken up the cudgels, others are still playing hardball on improving their service offering.
A Retirement Income Covenant obligation notwithstanding, there is still a paucity of these complex products on offer. The Advice Through Superannuation draft legislation might offer a way forward.
Hamer returns to funds management with boutique role
John Hamer
John Hamer, an experienced marketer, has returned to the funds management industry after four years in financial services media. He has taken an institutional business development role at the established boutique manager Private Portfolio Managers (PPM).
Hamer was most recently the head of business at Investor Strategy News (ISN) and prior to that was an executive director of the public relations firm Shed Media. But he is best known for a series of senior roles at funds managers, spanning from BT Funds Management in the late 1980s to Pengana Capital, which he left in 2011.
In Between BT and Pengana, Hamer was a BDM at BNP Paribas Investment Management, head of master trust services for Challenger International, BDM for Suncorp and country head for global manager Nicholas Applegate.
PPM is a Sydney-based boutique formed in 1995 focusing on Australian and international shares, investing in a long-term thematic style and using individually managed accounts for efficient tax management. Its main client base consists of HNWs, family trusts, charitable organisations and foundations and the PPM Super Fund administered by Grosvenor Pirie. The firm was founded by executive chair Hugh MacNally and has 15 professional staff.
At ISN we wish Hamer all the best with his return to the dark side.
