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PIS breakaways launch new licensee

A number of former Professional Investment Services personnel have left the Centrepoint Alliance, setting up shop in the non-aligned dealer group space.

Former PIS general manager Stephen Poole and company secretary Lisa Sawyer have launched the Keystone Partnership to capitalise on the growing number of advisers and practices on the hunt for licensing alternatives.

Speaking exclusively to ifa, Mr Poole – who worked at PIS both before and after the acquisition by Centrepoint – said the move was not a condemnation of his previous employer, but rather stemmed from a desire to develop a new licensing model.

Advisers joining Keystone will become full equity partners of the firm – a condition which Mr Poole believes sits well with the provision of “independently minded” client service, akin to a law firm or big accounting practice.

“Keystone is a community of culturally aligned, like-minded businesses who are passionate about re-engineering the self-employed advisory space,” Mr Poole said.

“As an adviser-centric service provider, free of conflicted product margins, our focus and actions are in the best interests of our businesses and their clients.”

Keystone is currently in discussion with a number of practices around the country interested in its licensing proposition, Mr Poole said. 


The move follows the entry of former NAB executives Steve Tucker and Paul Heath into the non-aligned financial planning market, with a partnership model of their own under the name of Koda Capital.

“We believe the wealth advice firm of the future is independent,” a statement from the two Koda founders said at the time.