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
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
