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Research and Consulting

• July 2008: "Review of APRA Investment Performance Statistics of the Australian Superannuation Industry" research
• June 2008: The Lifeplan ICFS Financial Advice Satisfaction Index - latest findings
• July 2007: The Lifeplan ICFS Financial Advice Satisfaction Index

With an international focus the Centre fosters excellence in and improved understanding of the Financial Services Industry by providing strong research for the industry, its participants, regulators, academia and other interested parties. The ICFS draws on staff expertise across four schools in the Faculty of Professions, the Schools of Economics, Commerce, Law and also the Adelaide Graduate School of Business. Additionally it can call on staff from the Schools of Mathematical Sciences and Computer Science. Experts from a number of external organisations may also be involved.

Principle research goals of the centre include:

• Research relating to marketing of financial services, superannuation and managed fund performance, property finance, venture capital, market conduct, impact of regulation and operations.
• The ICFS as the administrative hub of a journal published by Emerald Press, entitled the International Journal of Managerial Finance. As part of this, the Centre is linked to academic and professional conferences and symposia which the Journal will be associated with. The Journal editors are Professor Ralf Zurbruegg and A/Professor David Michayluk (UTS)
• The ICFS coordinates applications for both private and state research grants.
• The Centre also encourages and supports students to undertake doctoral studies within the general area of the financial services industry and negotiates industry scholarships to support this initiative.

The ICFS bids for State, National and International consulting work relating to the financial services industry. ICFS consultants have worked on projects for numerous departments within the state and federal governments, international organisations (including the Asian Development Bank and the World Bank), and various large private sector banks and managed funds.   At any one time the centre is usually involved in half a dozen projects.  Examples of some recent project work that ICFS consultants have been involved with include:

• Strategic Planning Facilitation for National Credit Unions.
• Valuation of Reserve Funds required for industry.
• Retail Funds Management (Distribution).
• Analysis of retail insurance demand (life and property/casualty lines).
• Fund Management Design and Optimisation.
• Various Survey Reports on Perceptions of the Financial Planning Industry.

Review of APRA Investment Performance Statistics of the Australian Superannuation Industry

The International Centre for Financial Services (ICFS) has today released a 'Review of APRA Investment Performance Statistics of the Australian Superannuation Industry'. The report was commissioned by the Investment and Financial Services Association (IFSA) who requested the ICFS provide an independent and objective view on the way in which APRA report and interpret the data they receive as part of their prudential oversight of the superannuation industry.

Download the Media release now.  (pdf 139kB)

Download the article featured in The Australian on 24th July 2008. (pdf 107kB)

Download the article featured in Money Management magazine on 31st July 2008  (pdf 2MB)

The Lifeplan ICFS Financial Advice Satisfaction Index - latest findings

Download media reports on the latest findings of the Lifeplan ICFS Financial Advice Satisfaction Index.  (pdf 477kB)

Download article featured in Money Management. (mht 511kB)

Download article from Financial Standard. (mht 293kB)

Further information on the Index can be viewed here.

The Lifeplan ICFS Financial Advice Satisfaction Index

This is a detailed academic study that establishes the relationship between various attributes of investors' satisfaction with their financial advisors. In particular it examines quality of technical advice, levels of trust in the advisor and perceptions of portfolio performance. It provides the data that establishes the INDEX which has a starting point of 75. Future studies will evaluate, over time, the movements in investor satisfaction with their financial advisors.

This study also identifies and establishes data on investor traits such as age of the investor, duration of taking financial advice and levels of investment. It identifies many other possible areas for future research including satisfaction with fees charged and ascertaining how investors judge approporiate performance.

The research sponsor, Lifeplan, will release various aspects of this study to the financial press.

The study was conducted by Associate Professor Chris Medlin and Dr Syed Ali and they will update this Index each six months until at least the end of 2009.

The Lifeplan ICFS Financial Advice Satisfaction Index can be downloaded here.  (pdf 83kB)