Capstone widens adviser umbrella
Capstone Financial Planninghas succeeded in recruiting the financial planning arm of a well established Victorian accounting firm, a move that will see fourPACTadvisers transition to the independent group.
The planning arm, Premier Financial Solutions, of the Melbourne-based accounting group McKenzie and Partners, is the largest number of advisers from an accounting background that have yet joined Capstone.
Capstone managing director Grant O’Riley says the business enhances the group’s presence in Victoria and meets its vision of attracting advisers wanting to work under an independently owned and operated licensee.
The group says Premier Financial Services will bring across a solid amount of funds under advice and a good client base, primarily from the accounting clients of its parent group.
McKenzie and Partners managing partner Bill Anderson says the move of the arm to Capstone allows the business to take the next step in its evolution.
“It was important for our growth to find a licensee that would not only be a good fit with our accounting heritage but would provide the expertise and support necessary to grow the financial planning practice,” Anderson says.
O’Riley says that Capstone has received a great deal of interest from accounting practices who want to operate under its license.
“Our independently owned and operated status is a key factor for many accountants, along with our extensive product and platform choice and flexible support strategies,” he says.
In its first 16 months of operation, Capstone has grown to a total of 34 advisers in 19 offices throughout Victoria and South Australia with funds under advice of more than $700 million.
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