SFG rolls out boutique licensee support service


SFG Australia has officially launched a licensee service model in response to growing demand for back-end support from boutique Australian Financial Services Licensees.
Led by SFG's Dan Powell, the offering, Actuate Alliance Services, has been described as a "behind-the-scenes" answer to the dwindling face-to-face time small dealerships have with clients, largely due to administrative burdens.
"It's been designed to provide support around the delivery of best practice and best advice, while they still retain their control and destiny," Powell said.
Services provided include fee disclosure statements, letters of engagement, sales and marketing material and technical support.
The aim, he said, was to increase client engagement to the 80 per cent mark or above.
SFG's managing director Tony Fenning said the demand for support services from smaller firms had burgeoned in the post-GFC environment and more recently following Future of Financial Advice (FOFA) administrative demands. "They may have had an operating model and FOFA — and the super changes and everything put together — has disrupted it," he said.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.