Superannuation services firm All My Funds (AMF) and financial planning firm Client Wealth Financial Services have beefed up their alliance.
AMF will now be able to use Client Wealth's financial services licence, while Client Wealth will be able to use AMF's superannuation knowledge, AMF managing director Wayne Robinson said.
The deal will see Client Wealth become AMF's dealer group with AMF its authorised representative.
Queensland-based AMF rebates commissions to clients charged by advisers for servicing their super funds and offers shorter statements of advice.
AMF would also gain exposure to the Melbourne market because Client Wealth is based there, Robinson said.
"AMF is always willing to look at alliances with firms that share our values," he said.
Both companies have built undisclosed equity stakes in each other since mid-2007.
Client Wealth's managing director, Ken Barassi, declined to comment if there would be further additions to the alliance or whether there would be more equity stakes built in AMF.
Client Wealth has over $20 million in funds under management.
