Stanford Brown Group has announced its forthcoming departure from current AFSL provider, Genesys Wealth Advisers Limited (Genesys) and will be licensed through its newly established, non-aligned, privately owned dealer company, The Lunar Group (TLG).
“We are absolutely delighted to be announcing this milestone in the growth story of our firm”, says Stanford Brown, CEO, Jonathan Hoyle. “Under the founding of our Chairman, David Brown, we have a long history with both Genesys & Associated Planners and we will look back on the past 17 years with the fondest of memories. We respect the honesty and integrity shown by AMP management in announcing that the Genesys model no longer complemented that of the larger AMP group. We would like to thank all the firms, principals and Genesys staff that have helped us build the wonderful business we have today.”
“When conducting our due diligence that eventually resulted in applying for our own licence, we determined that our final licensee destination must embody our core beliefs:
That quality advice transforms lives
An entrepreneurial spirit
Heroic customer service
A relentless commitment to excellence
We met with some exceptional dealer groups and rejected many lucrative offers to join established operations. In the end, it came down to choosing the optimal structure that will let us ignore the noise currently occurring in the industry, and let us focus on what we do best – looking after our clients. We have gathered great talent across our 35 staff in North Sydney, and they are all energised by the exciting plans we have in the pipeline, for our clients, that can quickly become a reality in our own licence environment.
In a country where less than 3 in 10 Australians seek the services of a financial adviser, competition for new clients is low. In contrast, the competition to attract and retain the smartest and most talented people is fierce. This tight-knit group of the brightest people have a passion for advice, education, quality and professionalism with a steadfast commitment to helping our clients. In establishing The Lunar Group to license Stanford Brown, we have created an environment where our people feel proud of what they do and are excited to come
to work every day.
It was a conscious strategy to launch The Lunar Group with one Corporate Authorised Representative being Stanford Brown. We want to test our licensee procedures, governance and services and make sure they are scalable, relevant and valued before offering them to the wider market. Stanford Brown wouldn’t have joined a brand new Dealer Group without a track record, and we don’t expect the kind of discerning firms we will be targeting to do so either. We anticipate The Lunar Group to be introducing new firms to the group in 2016.”
Stanford Brown will formally change AFSL providers on the 26th May 2015.
