Risk-focused financial-advice businesses are continuing to show more resilience to the post-GFC market than their holistic counterparts, with some pursuing ambitious growth targets.
Guardian Advice executive manager, Simon Harris, told PPO that the Suncorp Group-owned advice network was benefiting from instability in the marketplace and a “flight to security” – the trend towards large, institutionally owned licensees.
To watch a short video clip outlining his views on recruitment and advice models, click below.
The group’s strategy is to organically grow its network to more than 200 advisers in the next three years by partnering with independent growth-oriented practices.
The network presently consists of 83 practices and around 150 advisers, roughly 65 per cent of whom specialise in risk, and this majority is only likely to grow.
“Coming through the GFC, the risk-focused businesses have been more resilient both in terms of cash flows and business values,” Harris.
“Australia’s advice landscape is highly competitive, and with the regulatory changes facing the industry, many advisers are seeking a more certain future with a dealer group offering a compelling partnering model.”
In October 2011, Guardian repositioned as a risk-focused dealer group aligned to growth-oriented advice practices, with a philosophy to enable advisers to “do business their way”.
Since December it has added four new practices to its network with plenty of interest from holistic financial planners seeking a referral relationship with risk specialists.
To watch Harris speak on changes to regulation, click on the video below.
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