MLC Wealth launches new advice business
MLC Wealth has launched a new advice business that looks to connect financial advisers and business owners.
The new licensee, TenFifty Financial Group, was created by combining advice businesses previously aligned with Garvan, Apogee, and Meritum, and would be led by general manager Brendan Johnson.
The business aims to stand as a community for self-employed advisers and advice businesses.
In an announcement, MLC said advisers under TenFifty would operate as authorised representatives of GWM Adviser Services, and self-employed advisers would become part of the TenFifty community.
MLC’s acting group executive for advice, Geoff Rogers, said: “These challenging times have shown the true value of relationships and the power of community, and the advice industry is enduring extraordinary change.
“By establishing opportunities to connect with like-minded peers to learn, share and collaborate through the TenFifty network we believe advisers will be even better placed to offer quality advice and set themselves up for success.”
Rogers noted TenFifty Financial Group would be built on four key business pillars: community, compliance, consulting and capability.
MLC said the name TenFifty was derived from the translation of MLC in Roman numerals.
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
