Centrestone continues rapid rise
CentrestoneWealth Advisory Grouphas cemented its first year’s rapid rise, launching a Melbourne office and acquiring another planning practice in Sydney, taking the business past $1 billion in assets under advice.
Centrestone joint chief executive Michael Pillemer says that Melbourne-based planner Gavin Wright has joined the business to kick-start its Victorian operations, as well as Sydney planner Steve Latham.
Pillemer says that these acquisitions total $150 million in assets under advice, taking the group over the $1 billion mark ahead of budget when many other advisory groups are suffering a downturn.
Wright is the chair of theFPAEducation Committee and has studied financial planning best practice in the USA, which Pillemer says gives the Victorian business an outstanding base.
Wright says he joined Centrestone because it had such good focus on ‘the client comes first’ and a fee only ethos.
“I wanted to work with like-minded people who are committed to independence,” Wright says.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
