Mercer Wealth Solutions is just weeks away from securing its first self-employed adviser to operate under the dealer group’s newly launched additional advice channel. Mercer is using the channel, which will involve partnership deals with self-employed or external financial planners across Australia, to broaden access to its financial advisory network.

The group is hoping to bring 12 practices on board by the end of the year. “We have been delighted with the response to our announcement in terms of interest from potential practices,” says Scott Walters, financial advice leader at Mercer. Self-employed practitioners will operate under Mercer’s Australian financial services licence and pay a percentage of their revenue in exchange for the dealer group’s support services.

They will carry Mercer Wealth Solutions branding in their practice names and must adhere to Mercer’s global codes of professional conduct. David Anderson, Asia Pacific business leader of Mercer’s outsourcing business, says one quarter of all Australian financial advisers work under a self-employed model. Walters says the first practice to join the new channel is in Sydney but not CBD-based.