Garrisons strikes deal with seniors organisation
TheGarrisonsfinancial planning group has struck an alliance with National Seniors to provide financial planning advice to the organisation’s 240,000 members.
Mike Curley, a senior executive in Garrisons’ Brisbane office, will take on the role of dedicated relationship manager with the National Seniors organisation, which is the largest organisation for Australians aged 50 and above.
As part of the agreement, Garrisons will post a dedicated financial planner in each of the capital city offices of National Seniors and its members will also have access to Garrison planners through the group’s own planning network of 80 offices around the country. National Seniors will supply details of the closest Garrisons advisers to members requesting financial planning advice.
National Seniors chief executive David Deans says the organisation already had a number of other relationships but was keen to strike a national deal and the size of the Garrison’s group and network was the driving factor in the two striking the alliance.
He says the group may also look at launching its own range of financial products for members and would make use of the relationship if it decided to pursue that course of action.
Garrisons executive chairman John Sikkema says the two groups began talking about the deal in June and Garrisons considered that a good way to build a client base was through the presence of a planner in the National Seniors’ offices.
The alliance rounds out a busy year for Garrisons who set up two financial groups under its banner in northern NSW and far north Queensland in July, signed a deal to provide back office services for the Australian Unity owned dealer group and took a 49 per cent equity stake in west Australian dealer group, Epic Asset Management.
Sikkema says the types of deal struck by the group reflect the group’s focus of creating relationships that suited groups that already had a successful product or service offering in the market.
AUTHOR
Jason Spits
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
