Former Hillross practice joins Fortnum
Cardena Private Wealth has joined non-institutionally owned licensee Fortnum Financial Advisers after being authorised by AMP's Hillross dealer group for 14 years.
According to Cardena director, Jonathan Kilborn, the move was expected to strengthen the company's business position and its services to high net worth individuals and families.
"We considered all our options, including applying for our own AFSL [Australian financial services licence], and conducted an extensive review of the market before deciding to partner with Fortnum," he said.
Cardena also said it had selected Fortnum due to its core values, operating model and ownership structure which aligned with its own core value and requirements.
"We wanted a licensee that was not part of a financial institution and had a long proven track record of successfully running a dealer group and overseeing the provision of client-centric financial advice," he said.
Commenting, Fortnum's managing director, Joel Taylor said: "We are extremely pleased to have a high quality professional services firm like Cardena join Fortnum".
"We are very selective of the practices we take on and our services set a high bar in terms of professionalism and Cardena is a great fit," he said.
AUTHOR
Oksana Patron
Recommended for you
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.
Morningstar has made two business development appointments to drive the growth strategy of its financial advice software, AdviserLogic.
