Capstone Financial Planning has targeted New South Wales as the next stage in its growth plans with the dealer group now holding more than $1 billion of funds under advice.
The group is hoping to grow its number of advisers from 45 to about 75 by the end of the next financial year, said Capstone managing director Grant O’Riley.
“The next 15 months (to the end of the 2006 financial year) will see us go into New South Wales and reach $2 billion of funds under advice,” he predicted.
Currently the dealer group operates in all states except New South Wales.
O’Riley said Capstone was looking at acquisitions and continued to attract advisers from large institutionally owned groups.
O’Riley said while many advisers are running successful businesses, some have stagnated due to dealing with legislative change and negative press about the industry.
“We don’t dictate to advisers how to run their business, but Capstone is regarded as a refreshing alternative to advisers who have weathered these issues and are now looking to move ahead with their businesses in a variety of ways,” he said.
“We have tools to help advisers grow their practices if they want to take the next step, but we don’t tell advisers they must run their business in a particular way.”
Recently, Capstone was ranked as the fifth fastest-growing independent dealer group in Money Management’s survey of groups on the rise.
