IOOF-owned licensee joins Fitzpatricks

financial-planning/IOOF/AFSL/

1 July 2015
| By Malavika |
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Hobart-based boutique financial planning firm, Main Street Financial Solutions, has left IOOF-owned licensee, Lonsdale Financial Group, to join privately owned national advisory firm Fitzpatricks Private Wealth.

The decision came after a long search and due diligence process, after Main Street principals, Charles Badenach and Rebecca Fergusson, said they were seeking a licensee to meet their "exacting requirements".

Fergusson said: "Both Charles and I have strong personal values and with our professional backgrounds in law and accounting respectively we wanted a licensee that was unaligned, transparent and encouraged working on a fee-for-service basis.

"We each see this as the future for the industry and we are excited to partner with Fitzpatricks. Fitzpatricks met our non-negotiable requirements, plus added additional value."

Fitzpatricks Private Wealth chief executive, John Woodley, said being a privately-owned business makes it a good fit for Main Street.

Fitzpatricks is currently seeing many advisers expressing interest in joining the business, Woodley added.

Main Street will begin operating under Fitzpatricks today.

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