Australian Unity Personal Financial Services chief executive Steve Davis said it is clear that some advisers “aligned with struggling licensees or licensees with reputational issues are looking for stable, trusted and respected organisations with which to align”, leading to an increase in potential recruitment activity
Mr Davis said the advisers approaching Australian Unity are very discerning, conducting rigorous investigations into the quality of the support services and infrastructure a new licensee can provide them.
“The areas of most interest are compliance, technical, investment research and marketing support,” he said.
Although these advisers typically prioritised low fees in the past, Mr Davis said they are now looking for value for money from a licensee instead.
“We expect the ‘flight to quality’ to gain more momentum as certainty increases around FOFA changes and the conflicted remuneration grandfathering,” he said.
“We are in a good position to help the quality advisers looking for a new home because we have created a planner-focused environment that promotes advisory integrity while providing a high touch, full-service model that enables advisers to provide service excellence to their clients.”
A very good self promoting marketing article. I would think that most Advisers are smart enough to see it as just that. Are we expected to believe that this quasi Institutional Licensee suddenly, has the recipe for the perfect Dealer group.
The word recruitment in this article is indicative of whats wrong with institutional networks – they still think its the 1980’s and that they have ownership rights over practice heads. they still think large AR numbers is the game and yet the industry is littered with failures to supervise and monitor large AR numbers. Why not focus on advice quality and profitable practices that want unified and consistent levels of licensing support.