Spring FG to offer dealer group services

financial planning funds

28 August 2017
| By Mike |
image
image
expand image

Spring Financial Group has shifted strategy on its outright acquisition of superannuation and financial and retirement planning group, Financial Choice Holdings Limited, but is leaving its options open.

The company announced on Friday that it had appointed Financial Choice as a corporate authorised representative (CAR) ahead of a full launch of a dealer group services offer.

The Company said its appointment of Financial Choice as a CAR represented a shift of strategy from its previously announced intention for an outright acquisition of the business, but it had retained a first and last right of refusal for an outright acquisition, which will be considered in the future.

According to Spring Financial, the appointment of Financial Choice as a CAR will provide the company’s clients with access to a broader advice and product suite ranging from mortgages and finance, to estate planning, property advice and personal and corporate tax and accounting.

It said the appointment added a significant $325 million to the Group’s assets under advice, bringing its gross assets under advice to around $850 million, and reflected the company’s pending launch of a full suite of dealership services for the financial advice industry.

Commenting on the move, Spring Financial Group founder and managing director, Keith Cullen said a lot of advisers and mortgage brokers had sought to join the company on a dealership basis and the company’s growth “now sees us with a depth of offering, and appropriate operational capacity, to support and supervise them across a full suite of dealer group services.”

The Company said its dealer group service offerings would include critical base services such as compliance and education; approved product list management; and professional indemnity insurance cover.  It will also offer tailored programs, enabling advisers and brokers to access those services most relevant to their specific needs including:

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

2 days 16 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

6 days 22 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 4 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 6 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

5 days 20 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

4 days 23 hours ago