Pax to operate under Tandem group
Andrew Doquile
Pax Financial Group will now operate as part of the Tandem Financial Advice dealer group after relinquishing its own Australian Financial Services Licence.
Pax director Guy Mankey cited the ever-increasing burden of having to maintain compliance procedures as the main reason for the move.
He said Pax decided to join Tandem on the basis of its level of compliance support and the willingness to afford its representatives the autonomy to concentrate on their strengths.
“There are a lot of good licensee groups out there, but having been out on our own we wanted to be reassured that the group we chose could not only efficiently manage the level of compliance required in today’s regulatory environment, but would also allow us enough freedom to continue doing what we do well — delivering quality advice,” Mankey said.
Tandem has recently boosted the level of front and back-office support it provides to its representatives by enlisting the services of practice management consultants The Encore Group.
According to Mankey, other characteristics of Tandem also presented the dealer group as the right choice for Pax.
“We were looking for a licensee that understood the risk business and that also understood our total commitment to delivering quality risk advice,” he explained.
Director of Tandem Financial Advice Andrew Doquile felt Pax epitomised the qualities that his dealer group was looking for in its authorised representatives.
“As a group, Pax has been providing superior risk advice to its clients for many years and really
embraces the kind of service delivery model that Tandem is all about,” he said.
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