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Financial Wisdom expands rep network

Commonwealth Bank-aligned dealer group Financial Wisdom has expanded its growing network of authorised representatives, with 23 new advisers joining in July.

The new recruits have come from Sydney-based boutique WB Financial Management, which has moved 23 authorised representatives across its 12 offices over to Financial Wisdom’s AFSL.

“After much consideration and research we elected to make the change to Financial Wisdom in order to access the resources and service support that Financial Wisdom can supply to both our advisers and our administration staff, in what is an increasingly complex regulatory environment.,” said WB chairman Garry Connelly AM.

“One of the key reasons for our adviser groups electing to join Financial Wisdom is that it supports our business philosophy and commitment to the way our advisers serve their clients.

“WB will continue to provide services to advisers including Credit Licensing via its Proloan arrangement, ongoing development of the Agentia SMA platform for Adviser and affiliated Adviser use, and continued support and development for the advanced WB Xplan site.”

Financial Wisdom general manager Mark Ballantyne attributed the recruitment to the “new regulatory environment” and says it is not surprising that boutiques are giving up their AFSLs for the security of aligned dealer groups.