Clime commits to increasing adviser network
Clime Investment Management has committed to increasing its adviser network by 5-10% over the next calendar year as it receives an influx of enquiries.
In its half-year results to the Australian Securities Exchange (ASX), the firm detailed plans for “growth in adviser recruitment with opportunities in acquisitions and joint ventures” in its 2022 outlook.
Speaking to Money Management, chief executive, Annick Donat, said: “We are expecting adviser growth of 5% - 10% over the calendar year.
“The Group is seeing an increase in enquiries from practices and boutique fund managers to join the group or use our AFSL services. Where there is a strategic fit, we will consider capital investment (subject to our due diligence process).”
Clime currently had $4 billion in funds under advice, up 6.4% from $3.7 billion at the end of June, and it noted it had seen increased activity across Madison Financial Group, which it acquired in June 2020.
It added: “Both the current pipeline and level of interest from prospective advisers to join the Madison community is encouraging. Madison is anticipating reporting an increase in adviser numbers in FY22 despite the continuing decline in the industry.
“The wholesale licensing and investment service is attracting high quality professional advice firms seeking support for their high net worth clients,”
The number of advisers in the industry had been in decline with number of total advisers at 17,249 last week, according to Wealth Data.
AUTHOR
Laura Dew
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