Infocus Wealth Management has added 24 new advice businesses to its network since it merged with Patron Financial Advice in August 2014, the group has announced.
Infocus group managing director Rod Bristow told ifa that the wave of newcomers derived both from the aligned and non-aligned sectors and comprised businesses that were attracted to the company's non-institutional nature and ability to help advisers grow.
"We're seeing a lot of interest in the Infocus group from both aligned and non-aligned segments, as the core offer of growing revenue, increasing efficiency and effectively managing risk is what everyone is looking for," he said.
In a statement yesterday, Mr Bristow also noted that the way Infocus recruits new advice businesses is unique, saying that in addition to reviewing statutory requirements, the group's leadership team interviews each adviser principal before allowing them to join.
Infocus has had to turn away several practices, he added.
"Any member of the leadership team has the ability to stop the recruitment process if they believe the advisers' business model, values or approach don't align with our own," he said.
"In the last 12 months, for each recruit that has come on board, we have turned more than one away. This has completely changed the dynamic of our business, seeing advisers join the group who share our values and partnership philosophy and place great value in the technology, systems and processes available across the group to support their businesses.
Regarding accountants, Mr Bristow added that "while we do have a licensing offer for accountants, no accountants are included in the new advisers who joined the group in the last 12 months."
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Jun 2018FASEA names new chief executiveBy Reporter
- 20 Jun 2018Sexual harassment debate sparked in US advice industryBy Aleks Vickovich
- 20 Jun 2018Dealer group to appear before royal commission’s fourth roundBy Aleks Vickovich
- 20 Jun 2018BT turns off grandfathered commissions for salaried advisersBy Killian Plastow
- 20 Jun 2018Product providers back Dover advisersBy Aleks Vickovich
- 19 Jun 2018Consultant calls for ‘restricted’ product adviceBy Tim Stewart
- view all