Our Licensee, Fortnum Private Wealth, has been named 2015 CoreData Licensee of the Year, claiming the award for the second year running in an outcome that reflects consistently excellent satisfaction ratings by financial advisers licensed by Fortnum. The Award reflects Fortnum’s commitment to providing industry-leading support for its advisers and in turn, their clients.
“In straightforward terms the CoreData survey asks us to rate the performance of our licensee. It’s a confidential environment where we as advisers have the opportunity to give an honest assessment of the support we receive across ten core categories,” Matthew Lane said.
“While determining quality standards is important in industry terms, there is a direct knock-on effect for our clients. Fortnum’s support services include education and training, research, legal compliance and business planning, all of which are offered with high quality support that is well above industry averages[1]. Our clients can therefore rest assured that we are well equipped to deliver truly progressive financial planning advice,” he said.
The CoreData Licensee Report delivers a thorough and in-depth study of Australian financial advisers and the relationships they have with their licensees[2].
The consistently high ratings given by Fortnum’s advisers are an indicator of their strong appreciation for the range, depth and value of the support services available. When compared with their industry peers, who include much larger and longer established financial planning groups, Fortnum received ‘the highest overall satisfaction score of 8.63’ (out of 10) which is well above the industry average of 6.9 (out of 10).
Further, with a score of 9.6 out of 10, Fortnum advisers overwhelmingly indicated that they ‘are the most likely to recommend their licensee to other financial advisers’[3], giving further credence to Fortnum’s high quality support.
In other news…
Fortnum Financial Group and non-institutionally owned platform provider netwealth Investments Limited will imminently sign a deal to merge the operations of netwealth subsidiary Financial Planning Services Australia (FPSA) with Fortnum to establish a new entity.
The proposed entity will be jointly-owned by Fortnum and FPSA’s 20 member firms.
Under the proposed agreement, netwealth will continue to provide a range of services including platform, managed account, financial planning software and compliance services to the broader Fortnum and FPSA group of 54 principal practices and 130 advisers.
For more information contact Wealth Fundamentals on (07) 3720 1299.
Matthew and Chris Lane are financial advisers at Lane Moses Pty Ltd ABN 56 092 186 117 trading as Wealth Fundamentals. Wealth Fundamentals and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306.
This information is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Wealth Fundamentals strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.
[1] Education and training 93.5 vs 81.5; Research 87.1 vs 74.5; Compliance 96.8 vs 88.9; Business planning 71.0 vs 29.7CoreData Consulting 2015 Licensee Research – A study of the relative and absolute performance of Australia’s financial planning providers June 2015, p.20.
[2] CoreData Consulting 2015 Licensee Research – A study of the relative and absolute performance of Australia’s financial planning providers June 2015, p.4.
[3] CoreData Consulting 2015 Licensee Research – A study of the relative and absolute performance of Australia’s financial planning providers June 2015, p.14.