Tasmanian financial advisory firm, Zenith Wealth, has joined Fortnum Private Wealth, after an extensive review of Australian Financial Services Licensing options including self-licensing.
According to Grant Howe, Zenith Wealth Managing Director, the group was attracted to Fortnum’s in-depth understanding of advisory businesses, pragmatic approach to advice delivery, and commitment to helping advisers achieve their personal and professional goals.
“We are looking to scale our operations and grow so we need a licensee that can come alongside and partner with us on that journey,” he said.
“We need a licensee that understands and encourages our client-first ethos, and has the knowledge, experience, systems and solutions to help us drive practice efficiencies and deliver a stronger value and service proposition to our clients.”
Zenith Wealth has offices in Burnie and Devonport in Tasmania’s North West, and a satellite office in Maroochydore, Queensland. It is also looking to expand into Victoria.
The firm provides holistic financial advice across a range of areas including superannuation and investments, retirement planning, and personal risk insurance. It employs 16 staff including six financial advisers.
Mr Howe said the group’s transition to Fortnum from AMP’s Hillross, concluded a year-long search that included discussions with around half a dozen licensees and a serious look at self-licensing.
“Our focus is on growth, not running an AFSL. Fortnum offers everything we need from technology solutions to research and technical expertise. We determined that we couldn’t do it any cheaper or better,” he said.
“We have a lot of confidence in the great team at Fortnum.”
Fortnum Group Chief Executive Officer and Managing Director Neil Younger said Zenith Wealth encapsulated the type of business that the group wanted to partner with.
“Zenith is an established business that is dynamic and has fantastic growth potential. It recognises the value that a strong, capable licensee and business partner can add to help it take advantage of opportunities in the market,” Mr Younger said.
“We are focused on recruiting high quality businesses but it’s not about quantity. In order to achieve our objectives and help our member firms achieve their objectives, there must be a strong cultural fit and alignment of interests. That is the baseline from which we can achieve results together.”
For more information, please contact: Neil Younger, Group Chief Executive Officer and Managing Director, Fortnum Private Wealth on 02 9904 2792.