Paragem poaches Securitor practice
Ford + Scott Financial Planning has resigned from Westpac-owned Securitor and joined Paragem's Australian Financial Services Licence (AFSL).
Co-founder of the Hobart-based practice Mark Ford said the move was about a cultural alignment of interests at licensing and advice level.
"We've enjoyed a long and successful relationship with Securitor but we felt we had outgrown the vertically integrated model," Ford said.
"The move to Paragem affords us the opportunity to further strengthen the critical advice components that we view as so important in regards to strategy implementation for our clients."
Ford + Scott Financial Planning was founded by Tasmanians Mark Ford and Tim Scott in 1987 and now has $120 million under advice across Australia.
Paragem now has 13 aligned practices looking after more than $1.5 billion under advice, which according to managing director Ian Knox gives the dealer group enough scale to reduce client costs.
"We are now of sufficient size to generate scale and some attention in the market such that the benefits of aggregation can be used to reduce client costs," Knox said.
Recommended for you
A panel of commentators have emphasised working in a support or administrative role, such as in a call centre, need not be a step backwards and can provide valuable experience for future advice roles.
The FAAA’s Phil Anderson has said the delisting of E&P Financial Group won’t stop the company coming under scrutiny in the public inquiry.
A judge has dismissed an appeal by former Linchpin Capital Group director Peter Daly against a $150,000 penalty for breaching his duties as a director.
E&P Financial Group, former parent of Dixon Advisory, has formally requested to delist from the ASX, with the company noting the negative impact of regulatory proceedings on its share price.