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Non-aligned practice joins FPSA

A Sydney-based financial advice business has joined Netwealth's dealer group, Financial Planning Services Australia (FPSA).

Speaking to ifa, Netwealth head of advice group Simon Micallef confirmed the Sydney-based Definitive Wealth Management would now be licensed through its FPSA dealer group.

Prior to changing licences, Definitive Wealth Management was licensed through independently-owned licensee Lionsgate Financial Group.

Definitive Wealth Management director of financial planning Glenn Meilak told ifa the change came after a long search to find a more "hands on dealer group".

Mr Meilak also explained that with the expansion plans he has for the business, Netwealth's dealer group presents opportunities to achieve them.

"It is just a good fit," he said. "The main reason for the move is we have two parts of the business and [one of those] parts is helping young advisers become business owners."