Bennetts joins Daly’s Beacon Financial Group
Former PIS managing director Robbie Bennetts has signed with Beacon Financial Group, taking a stake in the group and providing access to tools developed by Bennett's own consultancy business - Robbie Bennetts Enterprises.
Beacon was formed by the merger of The Financial Link Group and Titanium Group in April and is headed by former Australian Financial Services (AFS) chief executive Peter Daly.
In a note to the group's planners, Daly stated Beacon would employ the resources Bennetts has developed in "a new state-of-the-art communication, lead generation and marketing tool".
While Bennetts will not have a specific role with Beacon, "he has entered an alliance with the group and will develop tools in conjunction with Beacon according to agreements of services," Daly said.
Beacon's planner numbers have risen by 30 since the merger, with the group now boasting 191 financial planners, including some of Daly's former AFS colleagues.
Planners will have an opportunity to meet with Bennetts and see the communication, lead generation and marketing tools in action when the group embarks on a two-week roadshow in July.
At that time Daly will also be discussing further a recent agreement with Melbourne law firm Holley Nethercote and compliance management consultant Frank Smith to provide an external compliance overview process.
"We are keen to establish internal controls under our own compliance manager Brendan Barrett, but also to add an external overview to ensure we get it right for our planners," Daly said.
Bennetts left PIS in 2011 after it merged with a listed company and set up his own consultancy Robbie Bennetts Enterprises. Daly took on the top job at Beacon when announcing its formation in early May, after having left his former employer in mid 2012.
AUTHOR
Jason Spits
Recommended for you
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments for investments.
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
