Expanded FSP set for April launch

advisers executive director

17 March 2008
| By Liam Egan |
image
image
expand image

Ross Bowden

ING is on course to launch its new Financial Services Partners (FSP) dealer group by the end of April, following completion of the incorporation of its former boutique Tandem Financial Advice.

FSP, which ING bought in November last year, will comprise more than 100 individual practices and 222 authorised representatives, with $5.5 billion in funds under administration.

The expanded dealer group, which will include Tandem’s 80 advisers in more than 20 practices, will be among the top 20 largest in Australia, according to ING executive director for aligned distribution groups Ross Bowden.

He said “putting Tandem into FSP has enabled us to create quite a sizeable financial planning group and brand in Australia — similar in size to groups like RetireInvest”.

He expected that “virtually all the practices within Tandem, bar two or three, which we knew about in December, will come across to FSP under a single agreement”.

Communication on incorporating the Tandem practices had been continuing throughout the three-month period since the purchase of the FSP Group for a reported $50 million.

“We always expected it would take three or four months to go to all the practices and talk to them about the value proposition FSP would offer them.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 day 17 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

5 days 23 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 3 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 5 days ago

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 ...

4 days 21 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

4 days ago