Lynx adviser numbers spiral
Lynx Financial Services has emerged as the financial planning growth engine for Mercantile Mutual.
Lynx Financial Services has emerged as the financial planning growth engine for Mercantile Mutual.
The fully owned Merc subsidiary has already attracted 110 advisers, mostly from a life insurance and superannuation background.
Lynx opened for business in November last year, after a number of executives left IFMA to start up the business.
The group is headed up by former IFMA national sales manager Stuart Abley. Abley points to the solution Lynx offers financial advisers from a life insurance and super background as the critical ingredients in the growth of the business.
“Our financial planning licence enables advisers to benefit financially by fully ag-gregating all aspects of their business under one principle instead of holding their own separate proper authority,” he says.
Until the Financial Services Reform Bill is implemented next year, Lynx advisers can operate under a dealership or multi-agency structure.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
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.
