The merger between Fortnum Financial Advisers and Financial Planning Services Australia (FPSA) has been completed with the FPSA having moved under the Fortnum Australian Financial Services Licence (AFSL).
As a result, a number of FPSA practices have joined the merged entity with other practices also looking to join the new group with around 20 high quality practices set to make up the new Fortnum-FPSA model according to Fortnum and FPSA managing director Joel Taylor.
“We recognised that not all practices suited the Fortnum model which is why FPSA is such an important part of Fortnum Financial Group’s overall proposition. FPSA is a new offer for advisers who want to partner with an independently-owned licensee and want support to grow their business and provide quality, client-centric advice but who may not fit Fortnum Private Wealth’s hallmark comprehensive, high-touch offer,” Taylor said.
As part of the merger FPSA national operations manager Lisa Faferko has moved from netwealth to Fortnum while former IA Financial Services operations manager Sandy Holland has joined Fortnum as client service manager, adviser operations & support.
Bombora Advice has added another practice to its licence – the fifth this year – with Sydney based risk advice business dmk group Pty Ltd announcing it had joined the group.
dmk group principal and founder David Keavney said his business would maintain its boutique, high-touch risk advice business offering but use Bombora’s industry position, services, support framework and strong relationships with institutions.
Keaveny started in financial planning 2003 and moved solely into risk advice in 2005 before setting up dmk in 2008 as a dedicated risk advice business.
“dmk group is most definitely a boutique premium business and it has been structured to reflect my personal values and goals to grow in an organic, steady and controlled manner that will ensure clients always receive the highest standards of advice, service, attention and care”, Keavney said.
“The decision to join leading risk specialist licensee Bombora Advice has been driven by the wish to future-proof the dmk business model in order that I can continue to provide specialist risk advice for clients”.