Four years ago Corin Jacka quit his role as a director of a successful financial planning business to set out on his own path. In 2012 Corin Jacka Financial Services was born, embodying the principles that Jacka believes should underpin financial planning services – including flat-rate fees, and no asset-based fees.
“I figured that if I was going to work in this industry for another 20 years then I wanted to set up my own model that was truly independent,” he says. “In 10 years’ time, I want to be able to look back and be comfortable with what I have done.”
He hatched a plan to work from his suburban Melbourne home with a small but solid list of clients, enabling him to spend plenty of time with his family.
It was not long before the business caught the eye of the directors of Priority1 Wealth Management Group, who suggested he take over their business because the two owners wanted to sell their stake to an independent professional.
“I said ‘no’, a lot of times actually, but we had a few coffees and I started to come around,” Jacka says.
“I could see the benefit of taking over the company because I had no succession plan on my own and my business was growing to the point where I needed that extra administrative support.”
Jacka, who is a fellow of FINSIA, agreed to a two-year transition phase, and he will take full ownership of the company from July 1 this year. The staff roles will remain unchanged, and he will continue to advise clients in his role as director.
Please note: The original version of this article stated Priority1 is based in Ringwood North, in Victoria. Priority1 director Corin Jacka has a home office in Ringwood North, but the business’s main office is located in Croydon.
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