AusUnity markets independent image
Australian Unity Personal Financial Services (PFS) is focusing on growing its adviser base by marketing itself as a non-aligned financial services organisation, according to head of financial advice Craig Meldrum.
Meldrum said AusUnity PFS has 75 practices around Australia and 120 authorised representatives - a number the company plans to grow using its offerings to accountants and marketing the "independent" image.
"Australian Unity Investments is one of our businesses and they have a number of joint venture retail managed funds options, but in terms of platform, bank ownership and distribution we are independent - not an arm of the product manufacturer," Meldrum said.
"We are a mutual society and are not owned by a bank."
Meldrum said the Accountant Partnership Program the company started offering in 2010 had helped Australian Unity grow.
"The work that our planners have done and the work that we've done with our accountants 'package' - which has really encouraged a lot of accountants to come - has helped us look at building a centre around the client and build a one-stop-shop in financial services," he said.
"A lot of accountants that don't want to provide financial advice themselves but want to have that kind of offering have come on to the books, and either have a referral relationship with one of our planners or become authorised themselves, in the way that financial planners have."
Many other financial services organisations in Australia have recently implemented strategies to attract accountants as a way to attract self-managed super funds.
MLC has launched its advice academy for accountants looking to offer holistic financial planning services to their clients, while BT Financial Group-owned Securitor started offering a number of training and licensing programs for accountants last year.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
