More advisers to weigh up licensing options

Financial advisers will be moving into licensing arrangements of firms that use an objective based advice route in 2017, Fitzpatricks Private Wealth believes.

The fee-based advice firm's chief executive, John McMurdo, said the market was currently saturated with the views of commentators seeking to analyse an inflection point facing the various underlying business models within Australia's licensee brands.

"We can say with great certainty that a significant number of advisers are indeed weighing up their options, just as the institutionally-owned groups have begun making major decisions regarding their future operating models," McMurdo said.

Related News:

He noted that a combination of culture and values centred firmly on client principles had seen over 150 expressions of interest made by external adviser businesses to Fitzpatricks last financial year.

"That is in itself an interesting number. But perhaps more telling from our experience is a consistent desire by those advisers to align with licensee groups that offer the opportunity to more deeply explore the opportunities of the objective-based advice route," he said.




Related Content

ASIC’s new levy could reduce licensee offerings

Financial advice licensees who cannot afford the multiple new levies, imposed by the corporate regulator, may need to consider reducing the services t...more

Former financial adviser banned for five years

The Australian Securities and Investments Commission (ASIC) has banned a former financial adviser of Wilson Advisory and Stockbroking Limited (Wilsons...more

Getting the best out of life’s sunset

Paul Harding-Davis looks at the five retirement transition phases now that he is approaching the ‘sunset’ of his life.1978. The year I joined the ...more

Author

Comments

Comments

well its easy to position yourself that way, but its a dealer that is vertically integrated, no different to those he is talking about - smaller scale, more nimble, but will end up with the same troubles, that being too many advisers to deliver decent service too - and then if the product doesn't perform, well.

Add new comment