Another IOOF-aligned financial planning firm has opted for a different licensee, following a competitive tender process.
Matrix Planning Solutions announced today that the IOOF-aligned firm, Chelsea Wealth Management had signed on to join Matrix.
It noted that Chelsea was a subsidiary of Police Bank Limited and was currently licensed by IOOF-owned Bridges Financial Services.
Chelsea employed 16 staff including six financial advisers across three locations in Sydney, the Hunter region and the Central Coast and were specialists in holistic strategic advice for retirees and pre-retirees.
The managing director of Chelsea is former Matrix managing director, Rick Di Cristoforo who said that the company had conducted a broad and exhaustive tender process and had looked at several licensees.
Matrix chief executive officer, Allison Dummett said Chelsea Wealth Management’s decision to partner with Matrix, after a competitive tender, reinforced the licensee’s superior offer.