RetireInvest recruitment recovers
Retireinvest is on the road to recovery following recent adviser losses, with the dealer group recruiting three new proprietors to boost its franchise numbers to 87, with 116 officers.
General manager George Haramis said the group had “aggressive” expansion plans, which it intended to execute through the recruitment of new proprietors, and the introduction of new advisers to existing practices.
“The objective is to recruit a minimum of 60 advisers in 2005, and we’re on target to do that, in addition to opening up a dozen new offices,” he said.
The expansion follows difficulties the group experienced last year with the renegotiation of its franchise agreement, which led to the loss of 22 planners in Victoria, who subsequently formed the breakaway group, Iris Financial Group.
The latest RetireInvest recruits include Paul Huggins, who moved from competing dealer group Financial Wisdom to become proprietor of the Wantirna practice in Victoria. Huggins is currently in the process of buying two other RetireInvest franchises.
Andrew Cunich has also joined after spending the last nine years as regional manager of Perpetual Private Clients in Canberra.
Craig Ralph, a 20-year veteran of the financial planning industry, and business partner Mark Chapman, have also become the co-proprietors of two RetireInvest offices in Albury-Wodonga and Doncaster.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
