Compliance service provider My Dealer Services (MDS) has hired Salisbury Group founding director Mark Euvrard to its board.
Euvard's appointment comes as MDS seeks to expand its offering to licensees..
"I think what's going to happen going forward is you're going to have the institutional advisers, there is a place for that, and then there is going to be some people who say 'I don't want to be tied to an institution, I actually want to do it myself and control my own destiny'," he told InvestorDaily.
"I think there will be a definite move towards that, and what we can do is get them their licence and then maintain their licence. It's a broader offering. The offering was there before but it is much more practical now."
Euvrard also notes that MDS has no immediate plans for expansion or further appointments.
"The expansion is going to occur on a sensible basis. We'll see what the needs are," he said.
MDS was established to provide specialist support services to current Australian financial services licence (AFSL) holders and advisers looking to acquire their own AFSL in a cost-effective manner.
In addition, MDS assists licensees in their compliance obligations from monitoring and supervision of authorised representatives to training and ongoing regulatory requirements.
"We now have a complete offering with senior experience in both compliance and licensee services," MDS chairman Don Wiggins said.
"We can manage the process from getting an AFSL to managing the ongoing compliance requirements, thus letting the adviser focus on his clients and run the practice in a practical and cost-effective manner."
