Deals Snowball for financial planning group
Snowball Financial Planning has secured its third arrangement to provide financial services and advice to an employer group in the last month, announcing today that it is to be one of five adviser groups providing advice to the Catholic Schools Superannuation Fund of Western Australia.
Snowball’s earlier deals include winning the right to provide shipping firm P&O’s 6000 members with financial advice, and winning the mandate to administer the Charles Parsons Superannuation Fund, a 700 employee fabric and textiles fund.
The 10,000 member Catholic Schools Superannuation Fund of Western Australia, with $210 million under management, will refer its members to a panel of five financial planning firms, of which Snowball is now one.
Snowball managing director Tony McDonald says the company will offer face-to-face financial planning and education seminars to the super fund’s members.
“There is now real momentum and support behind empowering super fund members to take control of their wealth accumulation, debt management and risk management by accessing advice,” McDonald says.
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.
