Fortnum Private News Today

Financial advice businesses must supercharge their capabilities, expand their capacity, and scale up to reach and serve more Australians.

The tripartite deal between Fortnum and AZ Next Generation Advisory, announced earlier this week, to acquire the financial advice arm of Australian Unity is a “reasonable fit”, according to Wealth Data.

Australian Unity entered into a strategic alliance, selling its financial advice business to AZ NGA-owned advisory firm Nestworth and Fortnum Private Wealth.

Two financial advice firms both backed by AZ NGA will merge to provide holistic as well as workplace financial advice.

Client pricing is a crucial element in financial advice, but the methodology used by practice managers is often not as robust as it should be. So what are some of the common mistakes made when structuring a pricing policy, and what can advisers do to ensure the value of their service matches their remuneration?

Former bank-licensed advisers have opted to move to privately-owned licensees, with a preference for boutiques, according to Adviser Ratings.

Building scale will allow advice businesses to be in a stronger position to manage costs, meet their compliance obligations and keep fees steady than a small practice, according to Fortnum Private Wealth.

Fortnum CEO Neil Younger The intense regulatory focus on life insurance advice may appear disproportionate to activity, given 84 per cent of financial advisers spend the majority of their time providing strategic advice on superannuation, investments and other non-insurance-related matters according to Investment Trends. As such, the regulator’s focus may soon shift to strategic investment advice. This is likely to coincide with the inevitable end of Australia’s near three-decade record run...