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IOOF-aligned practice joins Fitzpatricks Private Wealth

Hobart-based financial advice business Main Street Financial Solutions has moved from IOOF's Lonsdale licensee to join non-aligned dealer group Fitzpatricks Private Wealth.

Main Street Financial Solutions principals Charles Badenach and Rebecca Fergusson said they had wanted to join a new licensee that would still allow them to provide non-aligned and holistic financial advice to clients.

"[We] undertook a fairly extensive process in the search for an alternative dealer group," Ms Fergusson said.

"Both Charles and I have strong personal values and with our professional backgrounds in law and accounting respectively we wanted a licensee that was unaligned, transparent and encouraged working on a fee-for-service basis.

"Fitzpatricks met our non-negotiable requirements, plus added additional value," she said.

Fitzpatricks chief executive John Woodley welcomed Mr Badenach and Ms Fergusson to the dealer group.

"We are delighted that Main Street has chosen Fitzpatricks as their licensee of choice," Mr Woodley said.


"It is pleasing that high quality advisers of the calibre of Charles and Rebecca see value in the Fitzpatricks model and have joined our Group."

Mr Woodley added that the dealer group is currently being approached by a number of advisers looking to join the licensee.

The changeover from IOOF's Lonsdale dealer group to Fitzpatricks occurred on 1 July 2015.