IPS plugs into Matrix
Financial services group Matrix Planning Solutions has added NSW planning practice Integrated Professional Services (IPS) to its dealer group in a move that is expected to be the first of many acquisitions for the firm.
Castle Hill-based IPS will be split into two businesses in the next 12 months, according to Matrix, in an effort to better manage its separate arms — a core business that provides financial advice to professional and small business clients and a second business that provides financial services to Diabetes Australia.
IPS principal Beverley Carlyon said the quality advisers and management at Matrix appealed to IPS.
“[IPS] loves the idea of co-branding and also the entrepreneurial approach Matrix has to developing software support to enable advisers to provide a real value package for their clients,” she said.
A Matrix spokesperson said the firm was in discussions with a number of other practices, which are close to joining Matrix in coming months.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.