Growth not the only objective, expanding licensee says
A burgeoning licensee admits it has had to turn away prospective advisers who did not fit with the business’ trajectory, despite solid growth in the last year.
Australian Unity has picked up 14 new practices across Australia in the last year, but said it is not just about the raw adviser numbers - the group wants to be able to help the advice firms grow at a targeted rate.
“Although we expect to continue to grow strongly, the fact we have a high touch, full service model with a focus on helping our advisers grow their practice means we do not want to take on too many advisers,” Australian Unity Personal Financial Services CEO, Steve Davis, said.
“That is why over the last 12 months we have turned away a number of prospective advisers and also assisted some of our existing advisers and practices to find alternative licensee options that were more suited to their business objectives.”
Australian Unity Personal Financial Services now has 77 planning practices and 122 advisers and said it does have plans to grow its footprint, albeit not too quickly.
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