FPWS has been established specifically to deliver specialised products and services to the wealth accumulation/wealth management market. FPWS has developed a sophisticated online fully-integrated administration and reporting service with a single point of entry utilising Managed Accounts as its core.

The benefits of direct ownership via a managed account service  include:

• transparency,
• portability,
• increased flexibility, and
• better manage tax liabilities.

FPWS is firmly committed to a private ownership structure free of any institutional bias, influences or bureaucratic procrastination.

Recognising that long-term success in any industry ultimately depends on the continuous delivery of an ever-improving and dynamic offering, FPWS prides itself on client focus and service delivery which will remain a key driver into the future.

Our aim is to offer you a fully-integrated Managed Account service thereby eliminating difficulties in integrating tax reporting across other financial products and/or the inefficiencies of duplicated administration fees that have served as a disincentive to the take-up of Managed Accounts in Australia .

Our Managed Account Service is the first of a number of strategic financial services FPWS is developing for financial planners, accountants and investors alike.

Brand Update

Late in 2009 there were changes to the underlying shareholders of the FPWS Managed Account Service. This had absolutely no effect to the service offering or the ability to deliver as per the service.

The Responsible Entity (the entity who is legally responsible for the service), Custodian and Administrator all remained the same with only a slight change to brand and underlying company name being required (name changed from First Prudential Wealth Services Pty Ltd to Financial Prosperity Wealth Solutions Pty Ltd). The service is still however marketed as the FPWS Managed Account Service.

This has no effect on client investments other than the fact financial reporting will be produced under the new branding and full company name references will be under Financial Prosperity Wealth Solutions Pty Ltd.

The changes to the logo is the first step in what will be a structured rollout of expanded service and product offerings which we believe will send ripples across the financial services industry in the way that investments can be more effectively and efficiently managed.

Obtaining a new prospectus

New PDSs were launched 3 May 2010 reflecting the new branding, reductions to admin fees (refer page 30 of PDS A) and and an increased range of Investment Mandates available through the service (PDS B). This includes a number of multi-asset class Model Portfolio SMA Mandates, a first in Australia. 

If you have any problems in registering for PDSs online, please phone us on 1300 379 762.