Capstone snares ING advisers
Capstone Financial Planning has signed-up six Melbourne-based former advisers of ING’s now mergedPartnership Planningbusiness, taking its stable of planners to 29 and pushing its funds under advice to $700 million.
The Victorian-based dealer group, which was established in July last year, is also seeking to sign-up practices in other states in the coming months.
“Our aim is to move into New South Wales, Queensland and Western Australia and we would like to have offices opened in those states within the next three to four months,” a Capstone spokesperson says.
“We are looking to have an optimum number of planners on board of around fifty at this stage, which would represent a good growth in the business since we opened last year.”
The latest addition of planners are Ian Kinder, Stewart Macdonald, Anthony Buckley, Des Stayches, Colin Hunt and Kerry Sourasis.
This group of planners had been aligned with ING through its Partnership Planning practice, however this was merged into Tandem last year along with Lynx Financial Services and AustAdvisers.
According to one planner the group were keen to move away from an institutionally aligned business model.
“We needed the flexibility not available to us a s part of a larger, institutionally owned distribution network. We needed to find like-minded people with whom we could work to grow each of our practices,” Ian Kinder says.
According to Capstone’s spokesperson, “our business model allows us to help support them to do that though we’re not going to tell advisers how to run their businesses”.
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