Twenty-three financial planners have left their dealer groups to join Perth-based dealer Wealthsure Financial Services in less than three months.
The combined client book has swelled the group's funds under advice by $500 million to $2.3 billion.
Coolangatta-based practice Wealth Vision, which employs 10 planners, left local firm Fitzpatricks and signed up with Wealthsure as a corporate authorised representative at the end of October.
South Australian planner Tony Cafarella left Professional Investment Services and joined forces with Steven Wood (ex-Genesys Wealth Advisers) and Prema Peramasivam (ex-New Start Securities) to buy an existing Wealthsure practice Designer Wealth Solutions.
A further 16 advisers are due to come on board shortly in New South Wales and Queensland, Wealthsure chief executive Darren Pawski said.
"We are in final discussions with 16 other advisers and we expect by Christmas they would have come across," Pawski said.
The latest crop will propel the group into the top 20 dealer groups in Australia by the number of planners, according to the latest data from research house Morningstar's Investor Supermarket.
Wealthsure will become the third largest non-institutionally aligned dealer group after Count Financial and Australian Financial Services with 192 planners.
The group does not offer equity and has a firm stance of not mandating that its planners sell particular financial products, Pawski said.
"We're an advice-driven business, not a product-driven business," he said.
Other new planners include: Cam Hunter (formerly of ANZ Bank), Merv Lomax and Raymond Jamieson (formerly of Sentry Financial Services), Paul Quin (formerly of Aia Financial Services), Pedrom Salami (new licensee), David Brahams (formerly of My Adviser), Thomas Skidmore (formerly of AIG) and Michael Stratton (formerly of National Australia Bank).
