The move follows several other financial advice practices and planners joining the non-aligned licensee.
Pario Financial Management founder David Barber will “forge new territory” for the dealer group in Western Australia, a statement from Fitzpatricks said.
“We are delighted to welcome David who is a long-serving and prominent financial planning professional based in Perth,” Fitzpatricks chief executive John Woodley said.
“David joins a distinguished list of recent arrivals under the Fitzpatricks banner of high quality, privately-owned financial advisory services in Australia.
“He joins an existing group of equally passionate Fitzpatricks financial planners making a positive difference for clients around the country,” he said.
Good to see non-aligned dealer groups continuing to grow!
Another bullet for Suncorp Life. Guardian Fin Planning was established in 2004 with a large price paid by Promina for Guardian Financial Planning. Much fanfare was brought by the then CEO Mr D.P Fox (BA, Fiaa) about the sale. In line with Tower Life Australia buying a Planning business for $40 million dollars in 2002, the Return on Investment (ROI) by the parent company has been minimal. The issue of buying distribution companies by Life Companies has been on going issue since 2002.
Medium sized life companies are against the 1000 + tied advisers of AMP, the envy of the industry. BT, CFS, One Path and MLC have their own distribution and adviser groups.
The issue of selling investment products through the shops in the suburbs is another issue. Direct products sold through the Bank Branches are recommended by non commissioned salaried staff.
The issue of ”the products per customer” are still being used as Performance and Development by Bank Mangers.
Kind regards,
Adrian Totolos.
Business Analyst