A Gold Coast-based financial advice firm with 2,000 clients is the latest to become a Synchron-authorised representative, singling out the dealer group’s non-institutional ‘conflict-free’ structure.
Lifewise Wealth Protection will join the Synchron network, despite managing director Chris Kelaart saying his company had enough scale to get its own AFSL.
“Having our own AFSL would have meant a large chunk of our time would have been taken away from our core function – servicing our clients,” he said.
“For us, Synchron is the closest thing to having our own AFSL and because Synchron directors are financial advisers themselves, they understand exactly what we need.
“[Synchron] does not try to steer their advisers into recommending certain products because they don’t have particular interests in any one institution.”
Synchron chief Don Trapnell welcomed the new firm, describing it as an “outstanding risk-focused business”.
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