Stockford to launch referral network
Financialservices consolidator Stockford will rollout its own financial services referral group next month, despite the group’s latest loss of more than $5 million in half yearly results.
The group, named Pro:Centra has been established to distribute re-packaged Stockford products and company benefits to financial and professional service firms.
Pro:Centra managing director Charles Hornor says the group already has a pre-launch take-up of more than 50 firms, both in and outside the Stockford member firm network.
Hornor says the group will provide its members with direct access to Stockford’s departments, including insolvency, tax, corporate finance and planning, financial reporting and audit, superannuation consultancy and financial planning.
“As well as offering access to departments of Stockford, Pro:Centra will also give its members a range of unique benefits, such as professional indemnity cover and private health insurance, general insurance and reduced home loan rates,” he says.
Pro:Centra members will be asked to pay an annual subscription fee. For a sole practitioner this equals $55 per month, with larger firms paying an additional $22 per month for each additional partner.
Hornor says Pro:Centra is modelled on a network operating in the UK and Germany, between accounting firms and legal practices.
For the year to June 30, 2001, Stockford lost $5.73 million, a result well below its forecast profit of $7.5 million, after operating revenue reached $75.41 million.
Recommended for you
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.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
