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."
Recommended for you
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.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.