Queensland's PWK joins Paragem AFSL
Queensland boutique advisory practice, PWK Private Wealth Advisers has moved under the umbrella of Paragem’s wholesale Australian Financial Services Licence (AFSL) provider, Paragem.
Paragem managing director, Ian Knox (pictured) confirmed the move by PWK today, saying his company would be providing licensing of a full suite of back office services under the AFSL.
He said the move by PWK – made up of principals Clem Piscitelli, David Wilcock and Peter Keogh – brought the number of practices within the Paragem AFSL to 13 looking after $1.3 billion on behalf of clients.
Knox described his business as being a post-Future of Financial Advice (FOFA) model operating in a pre-FOFA world.
He said it was proving attractive to large practices which had had outgrown their current operating environment and wanted to expand “without being strategically lonely”.
AUTHOR
Mike Taylor
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
