Asgard looking for growth opportunities through AdviserNETgain
Wayne Wilson
Asgard Wealth Solutions is looking to its new online practice management tool AdviserNETgain as a vehicle of growth for its financial planning arm Securitor.
The financial services firm sees the new application as a means for financial planning practices to create a more robust business structure readying them with the ability to participate in growth via acquisition should that be the desired outcome.
Asgard director sales and distribution Wayne Wilson said the strength of the Securitor structure as it stands now is its uniformity of business model creating an environment whereby an existing Securitor practice can easily be acquired and absorbed by another practice in the dealer group with a minimum of effort and difficulty.
According to him the new online service will allow Asgard to extend this type of set up.
“We’ll be running AdviserNETgain in the independent financial advisory space and as independent or small dealerships or large dealerships take this product up, then they too enter into a secondary market of similar practices,” Wilson said.
“So anyone on the system becomes the ideal purchaser of anyone that’s not on the system. Also anyone that’s not on the system can be converted into the system and once converted can start to add value,” he explained.
Wilson said many of Securitor’s existing practices were already looking for opportunities to buy non-Asgard practices and bring them into line with the Asgard model to create additional value.
“If you think about this as the best extension of a productive, profitable business proposition, and if you can buy businesses that are not most productive, most profitable and use this tool to convert them into that environment, then you can grow value without adding another client or without changing revenue or fees that a client pays simply by driving down the cost of running those businesses,” he explained.
“Through this application you can be one or two or three times more productive than a business that doesn’t have this kind of system and you can take those client relationships and bring them into this model. That gives you great capacity both to compete to buy and to buy and effectively change businesses into that new model and we would expect a lot of that,” Wilson said.
As reported by Money Management in October, Asgard will be conducting a soft launch of AdviserNETgain in late November to coincide with the 2006 Financial Planning Association conference.
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