An unexpectedly high number of advisers are unhappy with their current licensee arrangements, according to Pinnacle Practice’s Anne Fuchs.
Ms Fuchs recently launched My Dealer Group, a service aimed at matchmaking advisers and dealer groups, and said she had been surprised by the level of interest from advisers.
“We expected that we would have to put a lot of energy into direct marketing to advisers to alert them to our services and let them know that we are here for them if they need help finding a new licensee relationship,” Ms Fuchs said. “However, what we’ve found is that advisers are calling us – it’s a bit of a surprise.”
The passion has gone, they’ve outgrown their current licensee…
She said the service was receiving multiple inquiries a day, with calls coming from advisers across Australia. She also pointed out that some well-established, large practices had expressed interest in switching licensees.
“It’s love on the rocks for these advisers; they have clearly fallen out of love with their licensees. The passion has gone, they’ve outgrown their current licensee and are looking for a new relationship to energise and motivate them.”
