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ASVW adviser licensee group gives business update

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Melbourne-based adviser group  ASVW Financial Services  is  gaining  traction in the market by setting out to be different from the traditional licensee model, CEO Stuart  Abley  says in a business update. 

Mr  Abley  says the conventional model  - regardless of ownership -  that  measures success by funds under manage ment or adviser numbers is  “under stress” as well as  unsustainable  in a growing number of cases. 

“It was obvious that a much different approach was needed, one that provided  fresh thinking for those advice practitioners seeking a more innovative offering, a  boutique feel, was professional and independent of manufacturers and  institutions,” Mr Abley  said. 

“From this understanding, the ASVW  offering was  developed to provide advisers the opportunity to be associated with a licensee  that intimately understands the industry.” 

Mr  Abley  says the business officially commenced in February but only introduced its services  to the market  two months later in April.

“We have had a lot of interest and several financial advice businesses have shown great interest and decided to join our licensee business,” he told insuranceNEWS.com.au. 

He says the business is different from others because it is technology driven, product  agnostic, has access to marketing-leading client engagement tools as well as choice of  platforms and managed accounts. 

“We believe there is a real appetite out in the market to partner with a boutique [Australian financial services licensee], who is non-institutionalised, with like-minded advisers who are focused on  maximising  business profitability and in turn  maximising  their business value,” Mr  Abley  told insuranceNEWS.com.au. 

“Many advice businesses are tired of the institutional model [which] has different goals and objectives to an entrepreneurial financial advice business. 

“We are also  focused  on business succession strategies to help our advisers in this important area while they grow and  optimise  their business.” 

The setup  of ASVW places the business in a good position to grow its presence in the market following the Hayne royal commission and Future of Financial Advice  (FOFA)  reforms. 

“Financial services  has  undergone immense and  unprecedented change and this will continue to be the norm for the foreseeable  future,” Mr  Abley  said. 

“This environment has provided an opportunity for ASVWFS to position  ourselves as ‘licensee of choice’  for entrepreneurial advice businesses seeking  to  capitalise  on post-FOFA and royal commission opportunities.

“We are determined to build success on the productivity growth of our advice  network and differentiation from other licensees via a very clear vision of the  future and a collaborative corporate model dedicated to servicing the needs of  advice businesses and their clients.”