Fastest growing dealer groups: Word of mouth grows Garvan
Word of mouth and a sound business model have been the key drivers in the growth of National Australia Group owned dealershipGarvan Financial Planning, according to general manager Brook Angove.
While Angove admits that there’s always been a focus on bringing new quality business into the dealership, he says it is only now that the growth effort is really being concentrated.
“Planners have been coming from boutique as well as large dealer groups, and there has been growth not only in terms of new businesses joining the dealer group, but in existing businesses adding proper authority holders too,” Angove says.
However, Angove also notes that over the last 12 months the group has seen a fair amount of consolidation. This not only resulted in a drop in the numbers of existing businesses over the last year, but a more considered approach to the group’s growth.
Angove says the dealer group’s focus on practice development, implementation management and good dealership infrastructure are attracting planners, as well as good platforms and a “robust” approved list.
Money Management’sfigures show the group to have 421 planners at September 2002, however, Angove says numbers have already grown to 583 by the end of April this year.
While the group predominantly works in the investment and funds management side of the business, Angove says it is also strong in the areas of risk and protection, while connections within the National group have seen the number of outsourced debt solutions growing.
Recommended for you
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 wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
