The non-aligned group told ifa that KLM Financial Planners, along with former Guardian-aligned firm Health & Finance Integrated, have joined its network.
Australian Unity PFS added that advice practice Family First Financial Solutions has also joined its licence.
The addition of these three practices brings to seven the number of advice businesses that have joined the network in the past six months, the group said.
Australian Unity PFS general manager of advice, Paul Harding-Davis, said advice practices are joining the group because of its “relationship-based service offering, open-architecture APL and accountant partnership program”.
“In addition, the fact we are a mutual organisation focused on helping our advisers improve the financial well-being of their clients, and not a bank or life insurance company, means advisers see us as being favourably positioned between the institutions and the self-licensing option,” Mr Harding-Davis said.
“We are a good option for those advisers who want a financially-strong, compliance-focused and well-resourced licensee and who also want the freedom that comes with a broad APL for wrap accounts, direct and managed investments, and risk insurance,” he said.
There are currently 102 planning practices across the Australian Unity PFS network, with 185 advisers and 24 mortgage brokers.
The issue of increased distribution via buying practices and the ability to cross sell products both product manufacturer and accountancy based now dominate the industry.
Kind regards,
Adrian Totolos.
Business Analyst.