Fiducian to expand adviser franchise network

Fiducian Financial Servicesis close to striking a collection of deals to significantly increase the scope and presence of its national financial planning franchise network.

The specific details of the deals, expected to be finalised within a week, would not be revealed by Fiducian manager wealth management Paul Barrett due to the fact the group is a listed entity.

“We’re about to expand our distribution through our franchise network nationally, both organically and through acquisition, and are on the verge of signing up a large group of financial advisers,” Barrett says.

Fiducian, which has 50 franchised advisers, is also about to release a series of new practice management tools for all its advisers.

“The group is launching Fiducian Best Practice across its internal network, which is a practice management methodology that has been developed in-house,” Barrett says.

The tool consists of three areas: Profit, Professionalism and a combination of the two, Proud, with the whole initiative being driven by the group’s national practice management head Marina Boetto.

Fiducian’s planning business consists of four distinct areas.

The first is its franchised planners, which will rise above 50 once the new deal is struck. Secondly it has seven tied advisers courtesy of theBodinnarsdealer group it bought last year.

Thirdly, according to Barrett, it has relationships with about 20 non-aligned advisers, and finally it has some relationships with independent corporate advisers.