Queensland's PWK joins Paragem AFSL
Queensland boutique advisory practice, PWK Private Wealth Advisers has moved under the umbrella of Paragem’s wholesale Australian Financial Services Licence (AFSL) provider, Paragem.
Paragem managing director, Ian Knox (pictured) confirmed the move by PWK today, saying his company would be providing licensing of a full suite of back office services under the AFSL.
He said the move by PWK – made up of principals Clem Piscitelli, David Wilcock and Peter Keogh – brought the number of practices within the Paragem AFSL to 13 looking after $1.3 billion on behalf of clients.
Knox described his business as being a post-Future of Financial Advice (FOFA) model operating in a pre-FOFA world.
He said it was proving attractive to large practices which had had outgrown their current operating environment and wanted to expand “without being strategically lonely”.
AUTHOR
Mike Taylor
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
