Aus Unity tempts disgruntled advisers

Australian Unity Personal Financial Services chief executive Steve Davis said it is clear that some advisers “aligned with struggling licensees or licensees with reputational issues are looking for stable, trusted and respected organisations with which to align”, leading to an increase in potential recruitment activity

Mr Davis said the advisers approaching Australian Unity are very discerning, conducting rigorous investigations into the quality of the support services and infrastructure a new licensee can provide them.

“The areas of most interest are compliance, technical, investment research and marketing support,” he said.

Although these advisers typically prioritised low fees in the past, Mr Davis said they are now looking for value for money from a licensee instead.

“We expect the ‘flight to quality’ to gain more momentum as certainty increases around FOFA changes and the conflicted remuneration grandfathering,” he said.

“We are in a good position to help the quality advisers looking for a new home because we have created a planner-focused environment that promotes advisory integrity while providing a high touch, full-service model that enables advisers to provide service excellence to their clients.”

Aus Unity tempts disgruntled advisers

Miranda Brownlee

Last Updated: 05 August 2014 Published: 05 August 2014