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
Zenith Investment Partners has welcomed a BDM focusing on adviser solutions in a series of appointments, while two asset managers have also confirmed new hires.
AMP non-executive director Kathleen Bailey-Lord and Iress non-executive director Susan Forrester have been appointed to the national board of the Australian Institute of Company Directors.
Wealth manager JBWere has announced the launch of two fixed income strategies for wholesale clients, backed by UBS Asset Management.
Firetrail Investments has confirmed the departure of four executives over the last quarter, including head of investment strategy Anthony Doyle.
