Fiducian unveils expansion deals
Fiducian Portfolio Servicestoday unveiled a number of initiatives as part of its previously heralded plans to expand its presence across a variety of financial services business areas.
The initiatives include Fiducian opening a new financial planning office in Sydney next week after striking a deal with five former institutionally aligned advisers and also the confirmation of a deal with the New South Wales arm of accounting group Hayes Knight to offer exclusive planning services to Hayes clients.
The group is also in various stages of discussion with 20 to 30 advisers over plans to sign them up, will shortly announce several corporate super deals with various public companies and bringing in excess of $80 million of funds, and is also planning to increase “threefold” the size of the Bodinnars planning group, it acquired mid-last year.
“We’ve developed a model for advisers whom are not entirely happy working for some of the larger institutions. The model is to transition those planners, who in an institution have security of income and new business leads given to them, to an environment where they run their own business - clearly these will be entrepreneurial advisers which while hard to find in institutions - do exist,” Barrett says.
The group is also in discussion regarding the opening of offices in Both Queensland and Victoria, according to Fiducian manager wealth management, Paul Barrett.
The new Sydney planning office will increase the group’s funds under advice by some $80 million and as for the Hayes deal, Fiducian also aims in the near future to expand this arrangement to cover the accounting group’s clients nationally.
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