AAA Financial Intelligence (AAAFI), formerly AAA Financial Group, has revealed it is looking to form up to five other strategic alliances as a means to gain greater critical mass in the coming year.
The news follows the recent announcement of the independent dealer group’s strategic partnership with Questus Capital.
“We are talking to a couple of other groups that we are hoping to have strategic alliances with where we can benefit from each other’s experiences. All of the other businesses we are talking to are non-institutionally owned,” AAAFI managing director Errol Rabaud said.
“We’re looking at these arrangements with a view that they will help us negotiate better with product providers and whatever else we do,” he added.
Like the deal with Questus AAFI the new alliances will operate initially as partnerships and will potentially progress to full merger agreements if the operations of the businesses are compatible enough and the synergies achieved are significant.
The strategic alliances form part of the dealer group’s growth target of 200 advisers operating under its banner by the end of 2007.
The Questus union was also the catalyst for the re-branding exercise that has produced a new name for the dealer group.
“We want the market to really start to understand that we’re no longer a small business,” Rabaud said.
“As a brand we want the market to see us for what we are. We’re not just targeting one part of the business, we’re really saying to the market that not only are we a risk and super business, we are also a wealth management financial planning business, a stockbroking business, and we’ve got a mortgage and finance business,” he explained.
“Nobody in this market has used the word intelligence in their marketing. What we’re saying about our business is that it’s the intelligent way to invest and protect and that’s what AAA is all about,” Rabaud concluded.
