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.
AUTHOR
Staff Writer
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
