Sociallyresponsible financial planning group Ethical Investment Company of Australia (EICA) has opened its second office, branching out into the Tasmanian market 12 months after originally opening its doors.
The Hobart office will initially be made up of two financial services professionals recruited from the local market and will rely on EICA’s existing Melbourne business for its back-office support.
EICA business development director Nick Cowling says the choice of Tasmania for the group’s second office came out of the response to research conducted in the state.
“We found there are people who have not been serviced very well in the past with ethical issues, yet it is very topical down there,” he says.
“Our aim is to provide a totally autonomous office in Hobart, recruiting Tasmanians to run our operation.”
Former Associated Planners adviser Jeff Frame has joined EICA’s Hobart office as senior financial adviser and will oversee the management of the office.
“Part of our role is the education role, and clearly in Tasmania there is a significant proportion of people who would be keen to be green,” Frame says.
“When you explain to people what ethical investing means, then people discover they have an interest in it.”
Frame says EICA in Hobart, which will officially be opened on May 30, has already received a level of interest from prospective clients.
According to Cowling, a Sydney office will be the group’s next focus.
