IFS doubles in size
Superannuation consultant Industry Funds Services (IFS) has bolstered its financial planning network with the addition of three planners.
The appointments bring the total number of IFS advisers around the country to 13 planners and two paraplanners, compared to five this time last year.
Stephen Moor has joined as a financial planning consultant in Sydney. Moor has worked for ANZ since 1985, the last five years as a financial adviser for ANZ premier financial services.
Steven Taylor has joined the IFS office in Melbourne. He has worked as a financial planning consultant at the Bank of Melbourne, ANZ Funds Management, and most recently as a financial planner at Equities Trustees.
The new paraplanner to join IFS in Melbourne is Nicholas McKay, who until recently worked at the Melbourne-based accountancy firm JEM Partners.
IFS head of financial planning, Frank Gayton, says the group is looking to double its size again in the next year, with 25 planners anticipated by the end of the 2000-2001 financial year.
Gayton says IFS imposes clear guidelines, both in the products they are permitted to offer and education standards. Industry funds are the only form of super the firm recommends, for example. All financial planners have also completed, or are close to completing the Diploma of Financial Planning (DFP).
The group is also exclusively fee for service.
"We are unique as we operate on a fee for service basis," Gayton says.
"Clients know the most they will pay is $495, and usually much less than that. It works on a percentage ratio for the client and instead of losing 3-4 per cent, our service costs them less than 0.4 per cent of the money they invest."
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