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Astute Financial recruits 100th adviser

Mortgage aggregator and financial planning firm Astute Financial has reached the milestone of 100 advisers, while warning other diversified companies they may be in for a “long, hard road”.

Astute Financial – which is licensed by non-aligned group AIW Dealer Services – is set to reach the milestone by the end of October, director Brad Wood told ifa sister title Mortgage Business.

“For us, 100 planners is quite a milestone because it puts us in the top 10 non-aligned dealer groups in Australia,” Mr Wood said.

“That’s a good achievement for a business in three years. If you set it up right and get the right people in and put the right distribution channel in play, the business works.”

Mr Wood also made comments about the outlook for diversified financial services companies, given the recent moves into advice by Loan Market and Vow Financial.

“I see a lot of people getting press about this now, appointing people, and expecting to just be successful,” Mr Wood said. “Let me tell you, they are in for a long, hard road.

“I wish them luck; we have been through the set-up and development phases and it is an exciting but difficult journey.

“Having come through that now, it places us in the ideal position to work closely with our members to help them build a strong and successful fully-integrated financial services business. Watch this space…”