New independent dealer group steps into the ring

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This Friday a new dealer group is set to step into the ring, under the name of Beacon Financial Group.

The group will come from the acquisition and merger of two existing dealer groups, Titanium Group and The Financial Link Group. It will represent $1.5 billion in FUM and 160 advisers ranging from Cairns to Perth, with head office functions split between Sydney and Brisbane.

Ex Australian Financial Services chief executive Peter Daly will be the group’s managing director. He will be working with COO Andrew Blanchette, head of adviser services Martin Lowe, head of compliance Brendan Barratt and head of distribution David Bertram.

Initially, business will continue to operate under the badge, identity, staff and management of each dealer group. Between now and 30 June, 2013, the group plans to introduce a range of new service offerings, including:

  • Operating as credit representative/s under a mortgage and finance licence; and/or
  • Establishing a finance and mortgage service offering; and/or
  • Establishing a property and real estate service offering; and/or
  • Being able to offer a professionally managed equities investment solution

Daly says that through selected recruitment, active organic growth and diverse income streams, the group will build a “formidable alternative” for the IFA market segment.

  • Matt on 7/05/2013 12:42:56 PM

    New "INDEPENDENTLY OWNED" dealer that what you meant to say?

    Or is this truly independent as per 923A of the Corporations Act?

    No commissions on insurance. The mortgage offering does not involve commissions, not basing fees on a % of FUM.

    ASIC will be very upset if you're misrepresenting the truth...

  • Peter Johnston - AIOFP on 6/05/2013 11:11:54 AM

    Good to see some positive news for the independent sector and consumers. The anti small business and discriminatory approach of the Government is beginning to be unravelled. Can't wait until September 14th.....

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