PIS back-office provider claims membership bounce
Professional Investment Services’ (PIS’) back-office service provider, Associated Advisory Practices, (AAP) added more than 30 dealer groups to its client list in November and December, according to PIS chief executive Robbie Bennetts.
The increase brings to 150 the number of dealer groups in AAP, a joint venture between the dealer group and independently-owned boutique licensees, Bennetts said.
“Based on the increase and strength of applications in January this year, we believe AAP will be very close to 200 dealer groups by Christmas this year.”
He attributed the bounce in membership to current adverse market conditions compelling advisers to focus on servicing clients rather than business practice issues.
“The current market is such that if you are running a little licence on your own, it’s nice to have a support mechanism in the market offering a range of dealer support services,” he said.
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
