Astute gains Victorian ally
Financial aggregator Astute Financial has continued its expansion into the Victorian market through an agreement with Alliance Financial Group.
Under the agreement, Alliance Financial Group will be responsible for training, development, compliance and recruitment for Astute in the Victorian market.
Astute director Brad Wood said the move would make it one of the largest financial services groups in Australia, and marked an exciting phase in its development.
“We are pleased to have formalised our agreement with Alliance Financial Group as part of our Victorian expansion,” he said.
“There are strong synergies between the two organisations, with both operating under the same philosophy. What makes Astute different is the quality of its people and we believe Alliance will add to this. Alliance’s directors are strong advocates of what Astute stands for.”
Alliance co-director Craig Dres said after careful analysis the directors decided that the Astute model would be the best fit in line with Alliance’s expansion plans.
“It will allow us to build what we already started and continue to grow as a quality operation,” Dres said.
“It is good to partner with an organisation that supports our strategic objectives and has infrastructure, systems and structured programs for growth.”
According to Dres, the partnership will also allow Alliance to ramp up its presence in the mortgage market.
Astute now operates nationally with practices in Queensland, New South Wales, Victoria, South Australia and Western Australia.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
