Astute gains Victorian ally
Financial aggregator Astute Financial has continued its expansion into the Victorian market through an agreement with Alliance Financial Group.
Under the agreement, Alliance Financial Group will be responsible for training, development, compliance and recruitment for Astute in the Victorian market.
Astute director Brad Wood said the move would make it one of the largest financial services groups in Australia, and marked an exciting phase in its development.
“We are pleased to have formalised our agreement with Alliance Financial Group as part of our Victorian expansion,” he said.
“There are strong synergies between the two organisations, with both operating under the same philosophy. What makes Astute different is the quality of its people and we believe Alliance will add to this. Alliance’s directors are strong advocates of what Astute stands for.”
Alliance co-director Craig Dres said after careful analysis the directors decided that the Astute model would be the best fit in line with Alliance’s expansion plans.
“It will allow us to build what we already started and continue to grow as a quality operation,” Dres said.
“It is good to partner with an organisation that supports our strategic objectives and has infrastructure, systems and structured programs for growth.”
According to Dres, the partnership will also allow Alliance to ramp up its presence in the mortgage market.
Astute now operates nationally with practices in Queensland, New South Wales, Victoria, South Australia and Western Australia.
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
