Ford and Scott Financial Planning has shifted from the BT Financial-owned Securitor licence to join Paragem Group's wholesale Australian financial service licence (AFSL) business, Paragem AFSL.
Paragem managing director Ian Knox said the practice constituted what "contemporary planning" was all about, "with a long-standing loyal client base, an ethical caring advisory team and a bright outlook for servicing the community".
Ford and Scott director and senior adviser Mark Ford said the move to Paragem AFSL was all about a cultural alignment of interests at the licensing and advice level.
"We've enjoyed a long and successful relationship with Securitor, but we felt we had outgrown the vertically integrated model," Ford said.
"The move to Paragem affords us the opportunity to further strengthen the critical advice components that we view as so important in regards to strategy implementation for our clients."
Ford and Scott is co-owned by Ford and Tim Scott and provides advice on over $120 million in assets to clients in its Tasmanian base and Australia wide.
"We are now of sufficient size to generate scale and some attention in the market such that the benefits of aggregation can be used to reduce client costs," Knox said.
"The model is all about ensuring that advice fees form the greater part of the value chain and that client interests are met."
Paragem AFSL now had 13 practices looking after more than $1.5 billion under advice, the company said in a statement.
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