FSP Vector merger spawns technical support facility

Geoff Rimmer

The recent merger between Vector Financial Services and Financial Services Partners (FSP) has allowed the dealer group to establish a Centre of Technical Excellence in its Melbourne office.

FSP chief executive Geoff Rimmer said: “One of the things we’ve recognised is that when you have a look at the profile of the FSP Group, we now have firms that specialise in risk advice, those that specialise in managed funds, and those that specialise in direct investment, and it’s all under pinned by very strong strategic advice.

“So we’ve had to evolve our Melbourne office to one that focuses on technical support,” he said.

The move has seen FSP employ three new people to ensure the level of expertise in the technical support centre can sustain the advice model the dealer group would like to offer.

“All of the synergies and cost savings we sought, we achieved more than six months ago, and now we’re reinvesting back into the model,” Rimmer explained.

As part of the process, FSP is looking for people with strong technical qualifications to allow it to strengthen its servicing of the self-managed superannuation fund market.

Direct investment is another area FSP is looking to enhance as part of this exercise.

“Most dealer groups are probably receding in terms of their service in direct equities. What we’re trying to do is say we already had a reputation for specialising in the wealth protection and creation market and we want to jump into that same level in wealth management,” Rimmer said.

The dealer group is also intending to evolve its research capabilities with respect to this service.

“In terms of direct equity, we will have a research capability but we also utilise Lonsec. But there are times when opportunities will present themselves or we’ll be asked if we can do some research on a particular stock, and it’s very important to have the capability in your business to be able to do that,” Rimmer said.