5Di research group to move into Garrisons
Research group 5Di will be absorbed back into theGarrisonsfinancial planning group as part of an ongoing restructure which will also result in the group rolling out a dealer-wide practice management system.
Garrisons managing director Kim White says while the move follows on from last week’s announcement that the planning group would split from its master trust Synergy, it is not related to the ongoing changes occurring within parent companyChallenger.
“There is a review of the whole Garrison business which is not Challenger related and we have always had autonomy, so this is our decision,” White says.
According to White, 5Di will not formally close its doors but rather, with a number of staff, be absorbed back into Garrisons and take on the research function for the group.
“We are choosing to go another way and will continue to use 5Di’s time-frame based approach to research and supplement that with other research from a third party. This will be both quantitative and qualitative as well as web-based and we are in discussion with interested parties,” White says.
He says the time-frame based approach will still form the basis of the advice model but components of the approach may change as part of the integration ahead of the launch of AdviserView, the group’s new practice management system.
“These changes are not just about research but the addition of other tools, such as best practice and business health, remuneration, and industry comparisons. They are about making the most of the information we have in our systems and finding the sweet points in the business,” White says.
5Di began operation in March 2002 after Partnership Planning head of research Lynne Curtis left that group to take on the chief executive role with the then newly formed research group. In May of the same year it also moved into supplying its own manage the manager (MTM) style investment funds.
AUTHOR
Jason Spits
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
