The recent impact of the global financial crisis (GFS) and upcoming regulatory changes has aided Countplus-owned dealer group Total Financial Solutions (TFS) in its expansion plans.
The group has announced expansion of its adviser network with the addition of six new advisory firms: Omega Financial Solutions, Financial Advisory Group, McCabe Financial Services, Hunter Financial, Finstyle Planning Solutions, and Mortgage Administration Services & Your Financial Solutions.
The firms cited culture, financial security, dealer services and business development opportunities for their decision to join the TFS group.
"With referrals to TFS advisers growing, it is no surprise that more advisers are looking to join TFS to take advantage of this opportunity," Countplus chairman Barry Lambert said.
Going forward, TFS' strategy for 2013 is to continue building its adviser base, increasing its number of small- to medium-sized financial services businesses and licensees.
"Our growth strategy is to continue supporting and building our existing practices, while recruiting quality, culturally-aligned businesses," TFS chief executive Phil Aris said.
"As market consolidation continues due to regulatory changes and increasing economic pressures, we expect increased interest in TFS from external advisers, and a growth in our adviser numbers," he said.
The new firms include both institutional and non-institutional aligned advisory firms, with a combined $350 million in funds under management (FUM), $4 million in risk in force and $5.4 million in revenue.
