Were stockbrokers, will be planners
Were Stockbroking is laying the foundations for an apparent expansion into
financial planning later this year.
Managing director Craig Drummond says it is too premature to discuss his group's plans, but admits that it will be "upscaling" the amount of personal investment planning it offers.
"We have a large retail client base. We do not think that we can do this client base justice if we do not offer a full range of financial advice across the as-set classes," he says.
"You could assume that
Were Stockbroking is laying the foundations for an apparent expansion into
financial planning later this year.
Managing director Craig Drummond says it is too premature to discuss his group's plans, but admits that it will be "upscaling" the amount of personal investment planning it offers.
"We have a large retail client base. We do not think that we can do this client base justice if we do not offer a full range of financial advice across the as-set classes," he says.
"You could assume that we are doing a fair bit on the systems and senior person-nel level to slightly change the emphasis of financial advice we offer."
Were recently advertised for associate investment planners and investment plan-ning advisers in several cities across Australia.
It already has about 160 retail advisers, of which about 15 are qualified finan-cial planners. Drummond envisages this mix will change over time, but not the total number.
He says an announcement on the group's plans could be expected by year-end.
In an unrelated move, Were's asset management arm recently appointed Michael Clark as managing director to boost its funds management presence in Australia.
Recommended for you
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
Betashares has named the top Australian suburbs with the highest spare cash flow, shining a light on where financial advisers could eye out potential clients.
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.