Collins House Financial Services (CHFS) has recruited two ex-JP Morgan staff as part of its three-stage business development strategy to be implemented over the next three years.
The expansion is part of a business development strategy aimed to develop a comprehensive in-house suite of financial services.
Joining the small financial planning office is Ian Henry and Matthew Grapsas, taking the total number of qualified certified financial planners to seven.
CHFS’s managing director Dominic Alafaci says his business is attractive to employees of large stockbroking houses, such as JP Morgan, because people get sick of working for a large faceless shareholder.
“You’ve got to enjoy the journey as well as being rewarded,” he says.
Also joining CHFS as client services team member is Jane Lord, taking the client services and risk team to five. These teams are expected to grow further with the expected increase in business.
Alafaci says the new additions take the business a step closer to realising its growth limit.
“We want to get a little bit bigger, but not much. The maximum number of employees is actually 30, consisting of six financial advisers, 12 other professionals and 14 support staff,” he says.
“We are currently just finishing stage one of a three stage strategy, and are really looking forward to stage two when we move to new premises,” he says.
Alafaci says while the three stage strategy determines the rate at which the business grows, he says it is difficult to find suitable professionals.
“I do not rule out a flexible approach, as your staff are your internal clients, and are so important to any business,” he says.
Launched in 1999, CHFS was established by Melbourne’s oldest stockbroking firm. It recommends both direct shares and managed investments. Alafaci views the relationship between a planning group and stockbroking firm operating independently as unique in the industry.
