RetireInvest attracts a dozen
RetireInvest has achieved its target of growing the firm’s distribution network by 60 planners in 2005 through the recent addition of 12 new advisers to the dealer group.
The new recruits joined RetireInvest in the past three months, bringing the number of new advisers the group has recruited this year to 61.
RetireInvest general manager George Haramis chose not detail specifically where the ING owned business got its new recruits.
“It was a combination of groups. I’d rather not talk about the groups specifically, but I will point out that there’s a mixed bag of advisers in terms of maturity, experience, and some of them have taken up new franchises as well. So, it’s not a case of just bringing on advisers, some of these people are actually our new proprietors,” Haramis explained.
The additional 61 planners in 2005 means RetireInvest’s total advisory network now numbers around 230. But the year’s recruitment has not yet ended, with Haramis anticipating a few more signings before 2006 that will boost the firm’s adviser numbers into the mid to high 60s.
Haramis said the success of the firm’s recruitment drive has exceeded his expectations.
“We started slow in the new year. We took a little bit of time to get our act together, but we drove it pretty hard. The response has been fantastic. The brand certainly helps attract people. The fact that we’re a full service dealership, we’re back on track with a lot of business initiatives, we’ve got some new initiatives that are really taking shape, and our alliances program, which adds a lot of value to practices, all make for a fairly good offering,” he said.
The newest members of the dealer group have come from a range across four different states with five located in Victoria, four in Queensland, two in South Australia, and one in New South Wales.
Growth remains one of RetireInvest’s major goals in the new year.
“We want to do at least what we did this year and a little bit more,” Haramis said.
“I guess there are a couple of focuses. One is to retain as many advisers as possible, because with all dealerships you invariably lose people and we want to minimise the number of advisers that leave the group. But we also want to maximise the number that come into the group. So I’d like to think we could add a net 40 to 50 advisers,” he added.
RetireInvest’s expansion follows difficulties the group experienced last year with the renegotiation of its franchise agreement, which led to the loss of 22 planners in Victoria, who subsequently formed the breakaway group, Iris Financial Group.
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