Former PIS Practice of the Year jumps ship
Beacon advisers held ‘ransom’ while IIOF money remains missing :

Former PIS Practice of the Year jumps ship


Sydney advice firm Evalesco Financial Services has switched from Centrepoint-owned Professional Investment Services to the Australian Advice Network (AAN).

Evalesco director Jeff Thurecht said his firm is switching licensees in order to gain greater control of his business – something that is difficult to do within a larger dealer group network, he said.

“We no longer fit snuggly within the PIS model,” he said in a statement. “Their large scale processes have to be rigid to work across hundreds of advisers, and we’ve reached a point where we need flexibility and agility.”

Evalesco is a former winner of the PIS Practice of the Year accolade and has been a prominent member of the Centrepoint Alliance’s network, ifa understands.

AAN is owned and operated by its four member firms – Centaur Financial Services, Robina Financial Solutions, Guide Financial and now Evalesco – meaning that its representatives have “skin in the game”, Mr Thurect said.

Under the terms of the agreement, Evalesco will play an active role in AFSL management and will have a say in decisions such as software, platform and product choice, a change Mr Thurect described as a “luxury that can be limited under larger licensees”.

AAN was crowned Best New Licensee at the 2016 ifa Excellence Awards.

For more information on the 2017 ifa Excellence Awards and its finalists, please visit

Former PIS Practice of the Year jumps ship
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