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
- 16 Mar 2018CBA CEO pushed for FOFA extensionBy James Mitchell and Aleks Vickovich
- 16 Mar 2018CPA dealer group clashes with FASEA requirementsBy Katarina Taurian
- 16 Mar 2018NAB launches virtual assistant for superBy Staff Reporter
- 15 Mar 2018IFA-focused platforms open to new strategiesBy Staff Reporter
- 15 Mar 2018Deakin eyes advisers to fill staff demandBy Killian Plastow
- 15 Mar 2018Adviser Innovation Summit 2018 agenda announcedBy Staff Reporter
- view all