Lynx adviser numbers spiral
Lynx Financial Services has emerged as the financial planning growth engine for Mercantile Mutual.
Lynx Financial Services has emerged as the financial planning growth engine for Mercantile Mutual.
The fully owned Merc subsidiary has already attracted 110 advisers, mostly from a life insurance and superannuation background.
Lynx opened for business in November last year, after a number of executives left IFMA to start up the business.
The group is headed up by former IFMA national sales manager Stuart Abley. Abley points to the solution Lynx offers financial advisers from a life insurance and super background as the critical ingredients in the growth of the business.
“Our financial planning licence enables advisers to benefit financially by fully ag-gregating all aspects of their business under one principle instead of holding their own separate proper authority,” he says.
Until the Financial Services Reform Bill is implemented next year, Lynx advisers can operate under a dealership or multi-agency structure.
Recommended for you
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
There has been a 16.3 per cent rise in the wealth of Australian billionaires this year to over $200 billion, UBS finds, as Australian advisers shift their offerings to meet this expansion and service their unique needs.
AZ NGA is looking to triple in size over the next five years as US investment giant Oaktree completes its $240 million investment in the professional services company.
