Centrepoint Alliance has set up an third financial planning group to operate alongside Professional Investment Services (PIS) and Associated Advisory Practices (AAP) launching the group at the start of the current financial year.
The licensee, Alliance Wealth, was registered with the Australian Securities and Investment Commission in April of this year and began business operations from 1 June according to Centrepoint Alliance managing director John de Zwart.
The new license will have a mix of salaried planners and authorised representatives and is based out of Sydney and is headed by former iPac private client adviser Scott Hammond.
De Zwart said the group had less than 20 financial planners on board at present but had only been operating for five weeks.
He said the new licensee would aim to attract non-aligned advisers who wanted to relinquish their own licence but still provide advice through a non-institutionally aligned planning group.
Alliance Wealth would also act as an alternate brand within thr Centrepoint Alliance group which would still retain the PIS and AAP brands and business models as well.
De Zwart said while the move, along with the provision of loans, managed funds and platforms through Centrepoint created a vertically integrated model it differed from those of institutional models.
"We have not started as a product manufacturer but from an adviser basis and look to provide the best solutions for them and their clients and run theses on a scale basis," de Zwart said.
Jason Spits travelled to the 2014 Associated Advisory Practices conference in Queenstown, New Zealand as a guest of AAP.
