AP seeks new blood
DealergroupAssociated Planners(AP) has launched a succession planning service to advisers — the AP Partnership program — to assist it in attracting new blood to the group in the form of future principals.
“We’re committed to assisting advisers within the AP network and others … to grow and operate sustainable financial advice businesses and when they are ready, to realise a premium for what they have built,” AP director, practice development Tony Madden says.
He says part of the Partnership program sees AP take a stake in member firms, with the aim of developing a more co-operative structure.
“Beyond the succession planning strategy, we’re also looking at what is the way forward for these businesses,” Madden says.
“Many require capital to get to the next step, and by taking on an investor it helps them to raise capital.”
AUTHOR
Lucie Beaman
Recommended for you
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
WIth only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
With a growing number of advisers now running their own business, they need to pivot their career identity to being a business owner rather than just as a financial adviser if they want to futureproof their business.
