Advisers rush Mawson offer
More than 70 financial adviser practices have signed up franchise agreements with the Mawson Securities since the group launched in July.
Most of the 70 advisers previously were part of the 600 strong national financial advisory network the Mawson Group. However, only the Mawson Securities advisers own shares in the group alongside the dealer services it offers.
Mawson now has about 160 proper authority holders under its dealer's licence
which it hopes to build into "one of the largest independent groups in Australia", according to director Peter Johnson.
Mawson has also signed up a number of sponsoring companies for the network, including AXA, AMP, Perpetual and Macquarie. The sponsors will supply services to the group and will take a shareholding when the group is listed in a few years.
Mawsons managing director Robert Steel says most of the advisers come from a life insurance background and are making the transition to a broader based advising role.
He says the group is also developing a master trust for its financial planners but has not settled on the administration system.
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