Hunter Financial agreement sets standard for Advice389 partnerships
Advice389's partnership agreement with Hunter Financial sets the standard for future partnerships between the Countplus subsidiary and advice firms, chief executive, Pierre Kraft believes.
Kraft said Advice389 had looked at a number of potential partners before entering into the agreement with Hunter, which sees it take a 40 per cent stake in the Newcastle-based firm.
"It really sets the started for future partnerships without financial advice firms," he said.
"Hunter has been growing very well organically, but is looking to step up to the next level, with help from Advice389.
"Our role is to facilitate that growth by investing in the business, while at the same time allowing Hunter to retain its branding and entrepreneurial control."
Hunter Financial chief executive, Brian Kennaugh, said the partnership will enable the firm to remain autonomous, while leveraging support from its partner.
"The support we receive from Advice389 will enable us to continue to act in the best interests of our clients by providing outstanding professional advice," he said.
"[And] our staff will benefit from many more opportunities as they pursue a career in financial advice."
AUTHOR
Nicholas O'Donoghue
Recommended for you
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.
