Ex-Challenger staffer goes locum
Former Challenger executive Jamie Kelly has started up his own practice to offer locum services to the financial planning industry.
“My business is based on what I believe are essential services for most small-to-medium AFS Licensees. That is, a simple and cost effective way to comply with their business continuity and/or compliance obligations under FSR [Financial Services Reform],” Kelly says.
The West Australian-based business, Compliance, Locum Financial Planning and Training Services provides an interim solution for financial advisers in the event of holidays, annual leave, illness or unforseen circumstances.
Kelly will offer a range of services to financial planners including acting as an interim responsible officer and independent compliance board/committee member.
“It is my hope that planners will see the need for professional financial planning locum services, and that is the part of my business that I want to grow over the next year,” he says.
Kelly has been involved in the financial services industry since 1975 when he started out with the Commonwealth Bank of Australia.
His career has seen him move from his home state of Western Australia to New South Wales where he worked with Mercantile Mutual before joining Challenger Financial Services Group in 2000.
The boutique operation launched in June, with Kelly signing contracts with a small funds management operation, an adviser and a small dealer group.
Recommended for you
Advice firms are increasing their base salaries by as much as $50k to attract talent, particularly seeking advisers with a portable book of clients, but equity offerings remain off the table.
MLC Expand has appointed retirement specialist Andrew Long to work with advisers and licensees and drive growth for its recently launched retirement solution.
Despite banks largely having exited the industry, advisers under institutional licensees are least likely to switch while 26 advisers have been appointed to a licensee more than 10 times.
Insignia Financial has shared a progress update on the acquisition by US private equity firm CC Capital as well as the departure of a long-standing director.
