Lonsdale targets accountants in growth push
Lonsdale Financial Groupis looking to grow the number of accountancy practices in its framework and to launch software in the second half of this year to help automate the workflow of advisers.
After the recent appointment of three new business managers, Lonsdale Financial Group general manager Mario Modica says he is looking to further grow the business beyond the 72-75 associated firms already in its network.
“We have been on 72 to75 firms for a while now,” he says.
Modica says Lonsdale’s focus on attracting accountancy firms to their business is a strategy that was put in place 17 years ago when the business first began, and reflects upon its own accountancy roots.
He says the captive audiences and cross-selling opportunities of accountancy practices are very attractive and estimates that approximately 13 of the 72 associated firms are solely financial planning businesses.
“We know how to make accountants good financial planners,” says Modica.
Also on the agenda is the release of software designed to automate and map a lot of the work of planners.
This will mean the placement of business and the interviewing process will be mapped into the software. While Modica says many businesses may also be automating these services, it is the mapping that will help standardise procedures across the different associated firms.
“We have fiercely independent firms so it is good for compliance and efficiency to do so,” he says.
Joining the team most recently is ex-Wizard Financial Services mortgage executive principle, Philip Penklis and ex-Bridges Personal Investment Servicesfinancial planner Theresa Mills.
Previously manager of Lonsdale’s life broking business, John Ashton’s role has been expanded to business manager.
Modica says Lonsdale is keen to invite expressions of interest by other accountancy firms.
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