Longtime AMP-aligned firm goes non-aligned
A Sydney-based advice practice has parted ways with AMP after 14 years to join Fortnum Financial Advisers, saying it wanted a licensee that was not part of a financial institution.
According to a statement, Cardena Private Wealth - previously trading as Arrive Wealth Management Sydney - had been authorised by AMP’s Hillross dealer group for the last 14 years.
The firm’s director, Jonathan Kilborn, said the move to Fortnum came as the business looked to grow.
“We considered all our options, including applying for our own AFSL, and conducted an extensive review of the market before deciding to partner with Fortnum,” he said.
“We wanted a licensee that was not part of a financial institution and had a long proven track record of successfully running a dealer group and overseeing the provision of client-centric financial advice.
“Fortnum will support us to focus on growing the business while doing what we do best, which is look after our clients.”
Managing director of Fortnum Financial Advisers Joel Taylor said, “We are extremely pleased to have a high quality professional services firm like Cardena join Fortnum.
“We are very selective of the practices we take on and our advisers set a high bar in terms of professionalism. Cardena is a great fit.”
Mr Taylor added that Fortnum is experiencing strong momentum and is well positioned for future growth.
AIOFP ‘appalled’ by ANZ shut down of adviser revenue
EXCLUSIVE Industry body the Association of Independently Owned Financial Profess...
Government reveals new financial services minister
The federal government has named a new Assistant Minister for Superannuation, Fi...
Maurice Blackburn chosen to undertake class action against AMP
Law firm Maurice Blackburn has been selected by the NSW Supreme Court to underta...