FSP remains acquisitive
Financial Services Partners (FSP) will be maintaining its acquisition focus despite the downturn.
The dealer group has revealed its goals and strategic plans for 2009 at its annual conference being held on the Gold Coast.
Speaking at the conference, chief executive Geoff Rimmer said a large part of FSP’s strategic focus needs to be about wanting to acquire businesses.
“We’ve got a lot of capital to help our advisers acquire,” Rimmer said.
“Even those businesses who are outside, who don’t want to integrate or merge, this is a pretty good place for them.”
Rimmer predicted a $550 million inflow to the group, while also planning for an after-tax profit of $3 million.
He spoke of being able to “de-link” business profits from market profits, saying there wasn’t any less opportunity for advice.
“Investment markets are not necessarily tied to our success,” he said.
Recommended for you
Determinations by the FSCP since the start of 2025 are almost double the number in the same period of 2024, with non-concessional contribution cap errors and incorrect advice among the issues.
Whether received via human or digital means, financial advice is reportedly leading to lower stress and more confidence, according to Vanguard.
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
