Advisers losing trust in aligned dealer groups

ASVW Financial Services chief executive Stuart Abley said the traditional institutional model of measuring adviser success by funds under management was “under stress” as advisers looked for more flexibility and support in a licensee.

“We are witnessing the fallout of financial advisers’ loss of trust and confidence in the large, vertically integrated institutions – many of whom are actively seeking alternatives to the institutions in order to ensure they can continue to provide advice and service their clients,” he said.

Mr Abley, who has held previous senior management roles at AMP and IOOF dealer groups, said his decision to join ASVWFS had been driven from the idea that “a different approach” was needed in how licensees were managed post-royal commission.

“Financial services has undergone immense and unprecedented change and this will continue to be the norm for the foreseeable future,” he said.

With the boutique licensee having now been in business for six months, Mr Abley said ASVWFS was seeking to provide advisers with a more flexible and efficient approach.

“The ASVWFS offering was developed to provide advisers the opportunity to be associated with a licensee that intimately understands the industry; is technology driven; product agnostic; has access to marketing leading client engagement tools as well as choice of platforms and managed accounts,” he said.