5Di research group to move into Garrisons
Research group 5Di will be absorbed back into theGarrisonsfinancial planning group as part of an ongoing restructure which will also result in the group rolling out a dealer-wide practice management system.
Garrisons managing director Kim White says while the move follows on from last week’s announcement that the planning group would split from its master trust Synergy, it is not related to the ongoing changes occurring within parent companyChallenger.
“There is a review of the whole Garrison business which is not Challenger related and we have always had autonomy, so this is our decision,” White says.
According to White, 5Di will not formally close its doors but rather, with a number of staff, be absorbed back into Garrisons and take on the research function for the group.
“We are choosing to go another way and will continue to use 5Di’s time-frame based approach to research and supplement that with other research from a third party. This will be both quantitative and qualitative as well as web-based and we are in discussion with interested parties,” White says.
He says the time-frame based approach will still form the basis of the advice model but components of the approach may change as part of the integration ahead of the launch of AdviserView, the group’s new practice management system.
“These changes are not just about research but the addition of other tools, such as best practice and business health, remuneration, and industry comparisons. They are about making the most of the information we have in our systems and finding the sweet points in the business,” White says.
5Di began operation in March 2002 after Partnership Planning head of research Lynne Curtis left that group to take on the chief executive role with the then newly formed research group. In May of the same year it also moved into supplying its own manage the manager (MTM) style investment funds.
AUTHOR
Jason Spits
Recommended for you
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments for investments.
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
