Two Australian Unity-aligned advice practices have left their licensee recently to join non-aligned dealer group AdviceIQ Partners.
Boston Private Wealth of Sanctuary Cove switched in June while Sydney-based Premium Financial Advisers completed its transition last week. Both firms were licensed under Premium Wealth Management.
According to AdviceIQ director Angus McLeod, the addition of these two firms will bring the group's funds under advice to over $900 million.
Further, "the new additions complement our existing partner firms who wish to avoid institutional control or influence," Mr McLeod said.
Speaking to ifa, Boston Private Wealth co-owner Neil Heriot said he decided to leave Premium Wealth Management after it was acquired by Australian Unity Personal Financial Services last year.
"We were with Premium and we were very happy but they were sold to [Australian Unity]," he said.
"We want to be non-institutional and non-aligned."
SUBSCRIBE TO THE IFA DAILY BULLETIN
09:41Spring Financial makes Perth-based acquisitionBy Staff Reporter
09:21Mercer releases superannuation chat botBy Staff Reporter
15 Dec 2017AIW Dealer Services enters EUBy Staff Reporter
15 Dec 2017New CEO appointed at Centrepoint AllianceBy Staff Reporter
15 Dec 2017FASEA education pathways provide certainty: O’DwyerBy Killian Plastow
14 Dec 2017AUSTRAC adds to list of CBA allegationsBy Killian Plastow
- view all