Broker insights survey - September 2017

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* 1. Which of the following best describes your role?

Stockbroker

Wealth Manager

Independent Financial Adviser (IFA)

Direct Investor

Other

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* 2. Please rank your clients’ investment objectives in order of importance.

Generate income

Protect capital

Beat the S&P/ASX 200 Index

Other

Establish a well-diversified portfolio that will rise in most, but not all, market conditions

Achieve an absolute return (say 6% to 8% p.a.)

Maximise after-tax returns (including franking credits)

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* 3. What are your preferred investment vehicles when implementing your clients’ wishes?

ASX Listed Instruments

Foreign Listed Stocks

Unlisted Managed Funds

ETFs

Other (please describe)

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* 4. What is your preferred listed investment vehicle?

Direct equities or hybrid securities

Listed investment companies

Passive ETFs

Active ETFs

Warrants / options / futures

And why (cost, transparency, tax, etc.)? Please advise

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* 5. Please fill out the current asset allocation being advised to your clients.

	0-15%	15-30%	30-45%	45-60%	60-75%	75-90%	90-100%
Australian Equities	Australian Equities 0-15%	Australian Equities 15-30%	Australian Equities 30-45%	Australian Equities 45-60%	Australian Equities 60-75%	Australian Equities 75-90%	Australian Equities 90-100%
Global Equities	Global Equities 0-15%	Global Equities 15-30%	Global Equities 30-45%	Global Equities 45-60%	Global Equities 60-75%	Global Equities 75-90%	Global Equities 90-100%
Global Bonds	Global Bonds 0-15%	Global Bonds 15-30%	Global Bonds 30-45%	Global Bonds 45-60%	Global Bonds 60-75%	Global Bonds 75-90%	Global Bonds 90-100%
Property	Property 0-15%	Property 15-30%	Property 30-45%	Property 45-60%	Property 60-75%	Property 75-90%	Property 90-100%
Hybrids	Hybrids 0-15%	Hybrids 15-30%	Hybrids 30-45%	Hybrids 45-60%	Hybrids 60-75%	Hybrids 75-90%	Hybrids 90-100%
Unlisted Assets	Unlisted Assets 0-15%	Unlisted Assets 15-30%	Unlisted Assets 30-45%	Unlisted Assets 45-60%	Unlisted Assets 60-75%	Unlisted Assets 75-90%	Unlisted Assets 90-100%
Cash	Cash 0-15%	Cash 15-30%	Cash 30-45%	Cash 45-60%	Cash 60-75%	Cash 75-90%	Cash 90-100%
Other	Other 0-15%	Other 15-30%	Other 30-45%	Other 45-60%	Other 60-75%	Other 75-90%	Other 90-100%

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* 6. How often do you change a client’s asset allocation?

Frequently (3-6 months or less)

Never

Periodically (every couple of years)

At least annually

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* 7. What's the usual driver of this change?

Change in clients circumstances

Change to market conditions

Out/under performance of a particular exposure

Recommendation from internal/external advice

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* 8. How often do your clients make significant changes to their investments?

Every three to six months

Every six to 12 months

Every one to two years

Every two to three years

Every three to five years

Other (please specify)

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* 9. What are your market return expectations over the next 3 years?

Stable

Decreasing

Increasing

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* 10. What are the key barriers to making more frequent rebalancing decisions on behalf of your clients?

Compliance hurdles

Implementation challenges

Skill set gaps

Time poor

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* 11. How do you construct the defensive part of your portfolio?

Cash

Hybrids

Direct Bonds

All of the above

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* 12. Thank you for taking the time to complete this survey, we appreciate your participation. To receive a summary of the collective responses please leave your details below.

Name

Email Address