With Australia’s retirement pool of savings at $4.2 trillion, this nefarious activity is going to become more prevalent, especially with hackers having access to increasingly sophisticated technology.
A Coalition Government will want to curb the union role in superannuation, especially in the industry funds – the largest superannuation sector at nearly $1.5 trillion. Setting up a royal commission to achieve this end will be overkill.
Hatfield joins advisor platform company board
Integrated Portfolio Solutions has appointed Damien Hatfield, one of the founders of the hedge fund industry in Australia who, more recently has focused on marketing a range of alternative and some traditional investment strategies for big and small providers, as the newest member of its board.
Integrated Portfolio Solutions (IPS) is a low-cost platform which aims to make an existing platform infrastructure more efficient in portfolio administration for advisors, brokers, family offices and tax agents. Options include reporting, investments trading, a client relationship management tool, advisor, investor and SMSF portals, and research.
The company was formed in 2009 with backing of the venture capital fund run by Aura Group, of which Hatfield is an executive director. Hatfield has raised about $1.8 billion for start-ups and other financial services firms through Triple A Partners, of which he remains a director.
Darryl Johnson, managing director and one of IPS’s three founders, said: “Damien’s experience and industry knowledge is certainly welcomed by the current board and executive team. [He] is already adding tremendous value to our fast-growing business.”
Hatfield, who joined Aura Group early in 2019, after a three-year stint as head of distribution with multi-affiliate manager Ascalon, said: “Having watched the development of the platform administration industry, I am very excited to be involved with Darryl and the team. IPS is quite a unique offering and I’m looking forward to being able to offer their services to my network of contacts.”
– G.B.
