The self-licensing service has been steadily growing its offering since the start of the year, including launching a new compliance portal in February and announcing a partnership with Colonial First State a month later.
According to My Dealer Services (MDS), it has been able to successfully add 15 new Australian Financial Services (AFS) licensees as members since its expansion of services began in January, “increasing the number of self-licensed practices it supports by more than 10 per cent to 110”.
“Over the coming months, we will be launching additional services and reaching out to more advisers to share our core belief that self-licensing is nothing more than removing a layer to allow advisers and practices to run their business their way, with the client front and centre of everything they do,” MDS director and founder Alexander Euvrard said at the time of the CFS launch.
Those additional services have now arrived, with the tranche of five service offerings bringing the number of new services to 10 since the start of the year.
This latest enhancement, according to MDS, has seen it partner with wealth-mapping software developer RetireMap Quantum to “provide members with cost-effective access to financial advice modelling solutions”.
Consultant Peloton Partners, which specialises in pricing for financial advice services, will provide pricing, “ensuring businesses capture their full value while maintaining fairness and transparency”.
A partnership with advice-tech group intelliflo will include practice management services and digital client engagement software. Additionally, a partnership with Tardigrade Capital, which MDS described as an “expert at helping advisers and their clients better understand and evaluate private asset investment options – especially in the private credit sector”, was also announced.
The final manger partnership outlined by MDS is their “platinum” partnership with Morningstar, which the service provider stated will help members simplify their day-to-day activities through managed accounts and investment solutions.
Working on expanding MDS’ partnership program, MDS head of strategy Ashley Mahadeea maintained that “quality trumps quantity” when it comes to partnerships and every decision made is in the best interest of members.
“We remain dedicated to empowering members with resources and partnerships that drive better client outcomes. Carefully selecting the right product and service providers to support MDS members is another step toward that commitment,” he said.
Echoing this sentiment, Euvrard said these enhancements demonstrate the company is “on track with its stated goal of supporting more advisers”.
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