GFC driving trend to 'uncomplicated' dealer group adviser offerings
The impact of the global downturn on revenue streams is driving advisers into alliances with dealer groups that offer an uncomplicated service and support offering, according to The Salisbury Group (TSG) chief executive Mark Euvrard.
The trend is being reflected in a growing number of enquiries and new adviser appointments at TSG, which has added 15 advisers since July last year, he said.
He added that this has helped to drive TSG adviser income growth by 10 per cent since the start of the 2009 calendar year.
“We’re well ahead of our recruiting target for the current financial year and I believe this is because we offer a compelling and flexible marketplace offering.
“The present economic environment will result in further volatility, with advisers leaving dealer groups that fail to respond to the growing demand for more realistic, affordable and flexible service and fee structures,” he said.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
