Privately owned financial planning group, Premium Wealth Management, has added Meridien Wealth to its network.
The Cairns-based firm, now headed by former fund manager David Adiseshan, has satellite offices in Sydney and Melbourne.
Meridien Wealth has been in operation for more than 15 years and its addition brings the number of practices under the Premium banner to 22.
Premium had recently announced a number of new initiatives with chief executive Paul Harding-Davis confident the latest recruit is representative of “the strong demand for the Premium dealer group model”.
A group apart
The group recently announced it had formed an alliance with The Emerald Club to provide licencee and dealer group support for members.
“Additionally, we have developed a new succession-planning policy that we believe sets us apart from other dealer groups and removes one of the main barriers to small firms groups remaining non-institutionally owned,” says Harding-Davis.
“If our members have the right support structures in place, they can focus on delivering a highly valued and professional level of service, and not simply become part of the product-distribution-focused world of institutionally owned planning firms.”
Independence and capability
Meridien Wealth managing director, David Adiseshan (right), was previously chief investment officer of Balmain Corporation, an Australian commercial mortgage originator and fund manager.
He has also held senior roles in institutional funds management with Lend Lease and Rothschild and was managing director of Massachusetts Financial Services in Australia.
“Businesses focusing on providing quality advice in challenging markets require licensees capable of evolving with them,” he says.
“Advice business models are evolving in response to changed investor circumstances and a bolstered regulatory environment.
“We believe selecting a capable licensee partner is as important as selecting one independent from the big four Australian banks.”
