Fastest growing dealer groups: Word of mouth grows Garvan
Word of mouth and a sound business model have been the key drivers in the growth of National Australia Group owned dealershipGarvan Financial Planning, according to general manager Brook Angove.
While Angove admits that there’s always been a focus on bringing new quality business into the dealership, he says it is only now that the growth effort is really being concentrated.
“Planners have been coming from boutique as well as large dealer groups, and there has been growth not only in terms of new businesses joining the dealer group, but in existing businesses adding proper authority holders too,” Angove says.
However, Angove also notes that over the last 12 months the group has seen a fair amount of consolidation. This not only resulted in a drop in the numbers of existing businesses over the last year, but a more considered approach to the group’s growth.
Angove says the dealer group’s focus on practice development, implementation management and good dealership infrastructure are attracting planners, as well as good platforms and a “robust” approved list.
Money Management’sfigures show the group to have 421 planners at September 2002, however, Angove says numbers have already grown to 583 by the end of April this year.
While the group predominantly works in the investment and funds management side of the business, Angove says it is also strong in the areas of risk and protection, while connections within the National group have seen the number of outsourced debt solutions growing.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
