Privately owned AFSL, FYG Planners, is pleased to announce strong growth in new firms joining the financial planning dealer group in 2016.
Across the year seven new firms joined FYG Planners with another already joining in mid January 2017.
Managing Director, Peter Mancell said it was a pleasing year and FYG Planners expects to see similar growth in 2017.
“The growth in 2016 was pleasing because we grew with ‘client first’ advisers and we see these numbers as sustainable going forward.” Mr Mancell said.
“We’re seeing a strong inquiry level already in 2017 which suggests a greater awareness of FYG Planners and our client first, no active management philosophy.”
In addition to adviser growth, FYG Planners successfully negotiated market leading fee reductions with one of their platform providers for clients on that platform.
For FYG this was the 5th admin fee reduction achieved in the last 15 years. Importantly, given the potential growth of FYG Planners and its buying partners in the Asset Class Investing Group, there are expectations to negotiate further discounts in the future.
Underlining FYG Planners’ continued growth, funds under management in 2016 have more than doubled since 2010.
The new advisory firms to join FYG Planners in 2016 were:
Hart Wealth Management of Adelaide, SA.
Foundation Wealth Planners of Dubbo, NSW.
Your Family CFO of Melbourne, VIC.
Baharian Wealth Management of Melbourne, VIC.
Summation Strategies of Ivanhoe, VIC.
Ambrose Advisory of Ashgrove, QLD.
Spencer Private Wealth of Sydney, NSW.
January 2017
Blue Diamond Financial of Bella Vista, NSW.