PIS adds Arrow to adviser network
Australia’s largest financial services group, Professional Investment Services (PIS), has announced that Arrow Insurance Consultant Services has joined its adviser network.
Arrow Insurance Consultant Services specialises in corporate superannuation and risk. The head of Arrow, Steve Culpitt, said joining PIS would allow it to market its corporate superannuation proposition and risk expertise to a more substantial and Australia-wide network.
Meanwhile, Culpitt said PIS sees potential in Arrow’s “large clientele of employers”.
Recommended for you
ASIC commissioner Alan Kirkland has detailed the regulator’s intentions to conduct surveillance on licensees and advisers who are recommending managed accounts, noting a review is “warranted and timely” given the sector’s growth.
AMP and HUB24 have shared the areas where they are seeking future adviser growth, with HUB24 targeting adding more than 2,000 advisers to the platform.
Bravura Solutions has appointed a new chair and deputy chair to take over from departing Matthew Quinn, while Shezad Okhai picks up another responsibility.
Two advisers say M&A is becoming a “contact sport” as competition heats up to acquire attractive advice firms, while a lack of new entrants creates roadblocks in organic growth opportunities.