Diverger acquires licensee support business AFSL Compliance
Diverger has acquired licensee support business AFSL Compliance to expand its client base of self-licensed firms.
Established in 2010, AFSL Compliance now worked with 160 of Australia’s most respected licensees and their financial advisers.
“AFSL Compliance has built a successful, repeatable and valued service for self-licensed firms, and we are pleased to be providing support to their clients,” said Nathan Jacobsen, Diverger’s managing director.
“Advice firms are growing strongly and looking for more services to help them scale, whilst maintaining choice around how they operate.”
Stewart Chandler, founder and owner of AFSL Compliance, stated: “Our service offering has great synergy with Diverger in terms of offering advice firms what they need and want in a flexible manner. We are thrilled to be partnering with Diverger and to have the opportunity to service more advice firms.”
Diverger, an ASX-listed company, was a collective of leading accounting and wealth brands which provided services to both licensed and self-licensed advice firms.
Presently, the self-licensed advice market of privately-owned firms made up of 1-10 advisers was the largest and fastest growing segment in the advice industry.
It accounted for 25% of advice firms in June 2022, according to the AdviserRatings Q2 2022 Adviser Musical Chairs Report.
AUTHOR
Rhea Nath
Recommended for you
The financial services industry is currently “overwhelmed with quality and quantity of candidates”, Kaizen Recruitment explains, leading executives to face 12-month long recruitment processes.
Zenith Investment Partners has appointed an experienced research executive as its new group head of research following the departure of Bronwen Moncrieff.
The financial services technology company has appointed two non-executive directors following its AGM earlier this year, where it flagged it would embark on a board renewal process.
Several wealth management companies have been selected as finalists at the inaugural awards, which champions those who have transformed the Australian economy with their AI solutions.
