Consultum signs up WA practice
The IOOF-owned, newly branded financial planning dealer group Consultum Financial Advisers has added the Western Australian-based advisory practice Prosperity Partners to its ranks.
Head of Prosperity Partners Mike Jones said: “We were attracted to Consultum primarily because of the technical and business planning support they can offer us. The group is also small enough to be nimble and flexible in its approach to the wide range of issues currently facing financial advisers.”
Another reason cited for the partnership was both groups’ focus on life-stage financial planning. This approach is one that was adopted only recently by Consultum to allow it to offer a more comprehensive service to its clients, including risk insurance and finance.
According to Jones, the decision to join Consultum has already paid dividends for his own business.
“We have recently successfully found a new business to purchase through Consultum, which has allowed us to further grow our business,” he explained.
Business development was a further area both groups found important, with Consultum recently developing an enhanced business improvement program to assist advisers in driving more profitability out of their practices.
“Through utilising the marketing and business support that our partnership with Consultum offers, we predict continued growth for Prosperity Partners and are very excited about what the future holds for our business,” Jones said.
Consultum Financial Advisers was born out of the amalgamation of Winchcombe Carson and Financial Partnership which occurred in August this year.
The combined dealer group encompasses approximately 130 financial planners under its banner.
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
