The need for growth via alliances and recruitment of financial planners is an imperative, according to a newly merged financial advice firm.
In announcing that the merger of Forbes Fava Financial Planning and Finanalyze Financial Planning has been completed, Cameron Forbes, CEO of the rebranded Forbes Fava Saville, says the need for growth via alliances and recruitment of financial planners is an imperative “…in order to have scale and associated resources to implement technological advances, administrative processes, compliance requirements, and training programs to continually upskill their advisers and staff.”
JVs and alliances with professional advisory businesses is a key area of interest for Forbes Fava Saville and Forbes is confident the newly merged group’s higher profile will attract these businesses in the future.
“I firmly believe that partnering via JVs or alliances with accounting groups, legal firms, finance providers and fellow financial planning practices will be a significant growth opportunity with the benefits measured in a more comprehensive range of services for clients,” he says.
Craig Saville, who will continue with the firm as a senior planner, says clients of the new practice have been “..the first to benefit with access to a broader team of financial advice professionals and range of specialist financial services.”
Forbes says the merger and higher profile has been the catalyst for a steady stream of alliance and succession planning inquiries from experienced business owners and financial planners expressing interest in potential business / growth opportunities.
Senior Financial Planner Michael Fava, who merged his operation with the organisation in 2021, says this is understandable considering the ongoing industry changes and the benefits of the firm’s industry knowledge, structure, administrative framework, flexibility and scale.
However, a key commitment of the new firm is to manage growth carefully in order to continue being an organisation that delivers personalised professional financial advice, service and support on a personal and local level.
