Australian financial services licensee Fortnum Private Wealth has launched a business optimisation service to help advisers materially improve their businesses’ quality, profitability, and capital value.  

It is available to aligned and external businesses, and has already been rolled out across Fortnum’s network of over 90 practices. 

When a business applies for the service, Fortnum will assess it on 128 criteria, each rated from weak to strong, to identify opportunities, issues, and critical areas for improvement.  

According to Fortnum group chief executive officer and managing director Neil Younger, traditional licensee services are fast becoming commoditised. This is forcing licensees to innovate and differentiate to meet the changing needs and demands of advice businesses and their clients.