In order to be a relevant dealer group in the move to a new fee-for-service regime, Financial Services Partners (FSP) said it is undertaking a number of initiatives including hiring new key staff members to provide more value to member firms.
FSP managing director Geoff Rimmer said as member firms were transforming to embrace fee-based remuneration models, so were operations within the FSP dealer group.
“We are looking to appoint a new sales manager in Victoria and are also looking for one or two people to come in and complement our research and technical area,” Rimmer told InvestorDaily.
“We are also looking at a new hire in the professional standards area because a great deal of work needs to be done in terms of expanding the breadth of our licence to incorporate credit and margin lending.
“We’re hoping to employ someone in a technical and paraplanning capacity as well, and hope to have these positions filled by December.”
Rimmer said he anticipated that some would be internal appointments but indicated that some were likely to be external.
“We’ve always prided ourselves on being a full-service business, so as we move into this more explicit environment where you need to make sure your value is much more visible, we have to make sure that we have good resources in place,” Rimmer said.
In July, FSP reduced the fees charged to its adviser network as part of a restructure of the company’s business model and said it would host one-day workshops to assist aligned and non-aligned planners in the transition to fee-for-service.
“We’ve had a lot of interest from advisers wanting to attend the workshops and a number of inquiries from advisers thinking about joining FSP as well,” Rimmer said.
