Premium Wealth picks up Meridien
Cairns-based financial planning group Meridien Wealth has joined Premium Wealth Management's dealer network.
Meridien was purchased by David Adiseshan and became an authorised representative of Premium at the end of last month.
Premium recently implemented a succession planning policy that sets them apart from other dealer groups and allows planners to remain non-institutionally aligned, Premium chief executive Paul Harding-Davis said.
Earlier this month, Premium formed an alliance with The Emerald Club to provide licensee and dealer group support for members and took a 25 per cent stake in the company.
"If our members have the right support structures in place, they can focus on delivering a highly-valued and professional level of service; and not simply become part of the product-distribution focused world of institutionally owned planning firms," he said.
Adiseshan was formerly chief investment officer of Balmain Corporation and held senior roles in institutional funds management with Lend Lease and Rothschild. He was also managing director of Massachusetts Financial Services in Australia.
"Businesses focusing on providing quality advice in challenging markets require licensees capable of evolving with them. Advice business models are evolving in response to changed investor circumstances and a bolstered regulatory environment. We believe selecting a capable licensee partner is as important as selecting one independent from the big four Australian banks," Harding-Davis said.
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