An experienced financial adviser has launched his own Western Australia-based advice firm under AMP Advice’s licensee network.
Nicholas Hatch, an adviser who has worked with AMP for nearly two decades, has opened his own advice practice Hatch Financial Group.
The firm provides strategic advice to young professionals, small business owners, retirees, and pre-retirees across Perth and regional Western Australia.
Hatch began his career as a co-owner of Allwest Financial Group with partner Martin Welsh for 16 years, which was licensed by Charter, a division of AMP Financial Planning. The business was then acquired by Sage Financial Group in 2021, prompting Hatch to establish his own practice under the AMP Advice network this year.
According to AMP, operating under its Australian financial services licence (AFSL) enables Hatch the autonomy and flexibility to run his business as he sees fit, while still benefiting from the support and guidance of a larger licensee.
Hatch’s journey reflects data from Adviser Ratings which discovered that small practices with one to 10 advisers have seen a 17 per cent rise since 2018, as more professionals look to start their own practice or join a micro-AFSL.
“Providing opportunities to more Australians and presenting options to put them in a better financial position is really what we’re doing. Being able to continue looking after that relationship and being able to effectively hold their hand through retirement is really what is valued by your clients,” the founder explained.
After working under Charter’s AFSL for several years, Hatch said he sought to continue his relationship with AMP’s wider advice network.
“It’s been a mutually beneficial relationship over the years and that sort of continuity was important for me. It was that having the autonomy here again to be able to run my own business, being in control of what I was doing was really appealing to me.
“AMP Advice have got a strong compliance program, and I’ve got some strong relationships there with the management. It’s always really important to understand who the people are you are dealing with. They really delivered on what they said they were going to do, which was a key aspect,” Hatch added.
Matt Lawler, AMP group executive for advice, welcomed Hatch Financial Group into its advice network as the firm looks to expand its licensee offering to more Australian advice practices.
“As the operator of one of Australia’s largest licensee networks, we understand what advice practices are looking for to operate profitably and compliantly under a corporate licence,” Lawler commented.
“We also understand many advisers are looking to run their practice under their own licence so we’ve packaged our services and capability into Jigsaw Advice Solutions, which we’re confident will benefit the growing number of self-licensed financial advisers.”
