Shartru Wealth looks to expand
Newly formed financial advisory group Shartru Wealth Management are looking to expand after a strong response to their official launch.
The wealth management branch of investment firm Shartru Capital Group opened its Newcastle office in November, but is already looking to expand after strong interest in its practice.
"We're looking to grow our dealer group," Shartru executive director Linden Toll said.
"We are getting at least weekly interest from other disgruntled financial planning groups within an existing dealer group, and from those with licences that might be looking to get away from the whole administration part."
With regulatory reforms including the Future of Financial Advice (FOFA) regulations becoming mandatory in 2013, Mr Toll said interest in Shartru Wealth has been strong.
"Obviously with industry changes coming into play, we're receiving strong interest and it's getting stronger as the New Year starts," he said.
"We've certainly had a few inquiries with regards to our dealer group and how it is we want to take it on, and we've got some exciting initiatives in play at the moment."
The financial advisory group launched its first firm in November, in conjunction with accounting firm Emerge Business Advisory.
The business is focused on providing long-term investment advice tailored to individual needs, rather than simply chasing high returns.
"Our business is about looking at the fundamentals of investment return in asset classes, rather than trying to always promise blue skies to investors, which really is just unacceptable in our terms," Mr Toll said.
"We want to deliver real returns over time."
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