Financial adviser match-making service launched
Financial advice and licensee match-making service My Dealer Group launched in Brisbane today, with a view to marrying advice practices and licensee groups.
The match-making service launched by Pinnacle Practice director Anne Fuchs aims to deliver independent, unbiased licensee/adviser compatibility assessments and facilitate these new partnerships.
Fuchs believes financial advisers need a way to test compatibility and assess a partnership's chance of long-term success in an environment where advisers are "spoilt for choice".
Licensees who seek to partner with a financial adviser group can pay a fee for the My Dealer Group service which involves determining the company's value proposition and promoting their offering to suitable advisers.
"We believe that what doesn't suit one adviser will suit another, so we are confident we can help make the right matches," Fuchs said.
The compatibility of financial advisers and licensee groups is assessed through a confidential 'fact-find' which ranks priorities such as commercial terms, culture, systems and processes, and lead generation.
"The fact-find also gathers information around where the financial adviser's revenue comes from, what kind of business they specialise in, the markets they are targeting, the product manufacturers they use to implement their advice, and so on," Fuchs said.
As regulatory requirements force more businesses to seek external sources for expensive services and resources, My Dealer Group says it provides a service for financial advisers and licensees wanting to make an informed decision about the partnerships they enter into.
"What we ultimately deliver to licensees are qualified leads for their business development managers, or, if they prefer, actual introductions to advisers - just like a dating agency," Fuchs said.
Recommended for you
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
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.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
