Dealer group Matrix Planning Solutions (Matrix) is celebrating its tenth year of operations.
Established in 1999, and commencing dealer group operations in early 2000, Matrix is now one of the top ten independently-owned dealer groups in the country.
According to Matrix, one of its key differentiators as a dealer group has been its focus on developing high quality and highly profitable advisers and processes rather than focusing on a more expansionary approach that seeks profit and efficiencies from scale. For this reason, the group says that its current tally of 42 selected advice practices will be capped at 50.
The dealer group’s two most recent appointments have been Adelaide-based financial advice and accounting firm, Advantage One and Twenty20 Capital Finance, based on the New South Wales central coast.
Matrix … sees itself as the dealer group of choice for advisers who don’t want institutional ownership in the relationship
Another key differentiator for Matrix is its independence, with the dealer group stating that it sees itself as the dealer group of choice for advisers who don’t want institutional ownership in the relationship. The Matrix ownership structure sees advisers owning 91 per cent of the group and staff the remaining 9 per cent.
Managing Director, Rick Di Cristiforo, said the dealer group’s focus is on strategic advice: “Everything we do is aimed at supporting the adviser to give strategic advice to clients, be it through strong research support, facilitating fee for service approach, professional development or our strategic modeling software, Prospera.”
Mr Di Cristoforo added, “The role of the licensee is to help the adviser provide quality advice and services. If we do our job properly, clients are well looked after and the adviser’s revenue grows accordingly.”
Matrix sees a bright future ahead and has made some predictions as the world economy slowly emerges from the current gloom:
- The world of the future will benefit from the long term improvements in corporate and banking regulation as well as government infrastructure spending brought about by the GFC
- Markets will return to rational behaviour (although Matrix can’t predict just when)
- Fund managers will become more transparent in their processes and will offer their skills under different investment structures
- Clients will increasingly benefit from ongoing strategic advice from their financial adviser
- Dealer groups that focus on quality of advice rather than quantity of advisers will prosper
Matrix currently has more than $2 billion in funds under advice and $39 million of in-force insurance premiums.
