Fiducian focuses on practice development


Financial services group, Fiducian has changed the role of some of its employees and part of its franchise model, in a bid to better ‘support and develop' planners.
Fiducian Financial Services' (FFS) head of financial planning, Robby Southall said Ben Davies will take up the role of practice development manager (PDM), and leave his recruitment position. He said as part of Davies' new role, he will be responsible for "finalising on-boarding for franchises and associates."
Southall said Fiducian promoted "internally due to the excellent performance of staff in the past year".
Its franchise servicing will also shift from a segment model to a geographical one, said Southall.
He noted, the listed company will "have two regions, northern and southern. Stephen Batchelor will be the PDM [in the] southern region and Ben Davies PDM [in the] northern."
Fiducian's salaried network will remain much the same, with Sydney-based Michael Dale looking after the northern region while Melbourne-based, Stephen Scerrie will manage the southern region, according to Southall.
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.