Speaking to ifa, Netwealth head of advice group Simon Micallef confirmed the Sydney-based Definitive Wealth Management would now be licensed through its FPSA dealer group.
Prior to changing licences, Definitive Wealth Management was licensed through independently-owned licensee Lionsgate Financial Group.
Definitive Wealth Management director of financial planning Glenn Meilak told ifa the change came after a long search to find a more “hands on dealer group”.
Mr Meilak also explained that with the expansion plans he has for the business, Netwealth’s dealer group presents opportunities to achieve them.
“It is just a good fit,” he said. “The main reason for the move is we have two parts of the business and [one of those] parts is helping young advisers become business owners.”
