https://www.youtube.com/watch?v=oSnb-3k_QbA You can view the full Market Commentary by clicking the button below. Market Commentary 2024 We are pleased to announce the release of Forte…
Steve Prendeville sits down with Garry Crole to discuss the general overview of the industry and provide a market update. Steve also delves into his…
https://www.youtube.com/watch?v=e8MpjvRXIUM Forte Asset Solutions' Managing Director has just celebrated his 20th year anniversary of selling and valuing Financial Services businesses. Please find a brief message…
You can view the full Market Commentary by clicking the button below. Market Commentary 2021 2021, a year Our industry and growing profession continued to…
https://youtu.be/3OciIerO7lk 2021 PIFA Symposium ~ Steve Prendeville In a 90 minute presentation given at the 2021 PIFA symposium, Steve Prendeville discusses the most recent market…
2020 was a rocky year for practice valuations, with AMP’s landmark decision to revalue its BOLR terms having a butterfly effect through the market while thousands…
“They used to have no value,” Prendeville says. “Now the average value is probably close to $70,000 and I have a waiting list.” Advice merger…
https://youtu.be/qMeCWWc98Do Valuations in a pandemic: Full Report Below What a difference a week, a month and a year can make. Early March I was on…
[vc_row][vc_column][vc_video link="https://youtu.be/QsqMCXS1Too" video_title="1"][vc_column_text] 2018/2019 Financial Year: Following the shocking revelations of the Royal Commission, the landscape of the financial services industry is forever changed. In…
[vc_row][vc_column][vc_video link="https://www.youtube.com/watch?v=NK6Kyiaupns" video_title="1"][vc_column_text css=".vc_custom_1538911677973{margin-top: 25px !important;}"] This financial and calendar year 2018 will be forever marked by the Royal Commission. [/vc_column_text][vc_column_text css=".vc_custom_1538912901869{margin-top: 25px !important;}"]Forte made…
I watched the spectacle of the Royal Commission into the Misconduct into the Banking, Superannuation and Financial Services Industry (RC) via live streaming. It felt…
Market Commentary 2017 YTD Background The ASX 200 rose 9.3% for the 2016/17 Financial Year. Since the Global Financial Crisis only 2013 (17.3%) and 2014…
Market Commentary 2016 YTD Industry Overview The prevalent theme over the year has been one of compliance. This is the continued over hang from the…
Market Commentary 2015 YTD Forte normally takes a rolling 12 month period to identify market trends but the 2015 YTD is so unusual and trends…
2013 finished with a whimper, however, with a message of hope when the new government's spokesman Arthur Sinodinos made comments indicating delivery of pre- election…
An artificial Merger and Acquisition freeze was created in Financial Services and the wider community due to political and legislative uncertainty through the period from…
Forte Asset Solutions The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning…
Forte Asset Solutions The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning…
Author: Tim Stewart Financial planning practice valuations have returned to three times recurring revenue as weak supply fails to meet demand, according to Forte Asset…
Forte Asset Solutions The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning…
Forte Asset Solutions The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning…
Forte Asset Solutions The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning…
Introducing Forte Asset Solutions Forte has retained the database of Kenyon Prendeville and all previous registered buyers information has been maintained to provide ongoing service…
There are a number of variables which help attribute to the valuation multiple of a […]
In a time where there is so much uncertainty, businesses that can showcase predictability and […]
Steve Prendeville sits down with Garry Crole to discuss the general overview of the industry […]
In a 90 minute presentation given at the 2021 PIFA symposium, Steve Prendeville discusses the […]
DEVELOP A BUYING STRATEGY Create a clear written strategy including what you want and why, […]
My last IFA contribution (September 2014) looked at external factors that impact industry valuations. I skirted the elephant in the room – that is, the application of recurring revenue and/or EBIT and the more controversial question of why accounting firms trade at one times and financial planning practices trade at three times.
As a broker of advisory practices, I was keenly interested in Rod Bertino’s article on valuations in last week’s Reality Check. My recent experience in the marketplace affirms Rod’s research findings that EBIT valuations are in fact outperforming recurring revenue valuations.
In a 90 minute presentation given at the 2021 PIFA symposium, Steve Prendeville discusses the […]
PREPARING YOUR BUSINESS FOR SALE In our initial meetings we discuss market values, the sales […]
My last IFA contribution (September 2014) looked at external factors that impact industry valuations. I skirted the elephant in the room – that is, the application of recurring revenue and/or EBIT and the more controversial question of why accounting firms trade at one times and financial planning practices trade at three times.
The most important element of advice practice valuation is the legacy the business leaves behind, says Forte Asset Solutions director Steve Prendeville.
As a broker of advisory practices, I was keenly interested in Rod Bertino’s article on valuations in last week’s Reality Check. My recent experience in the marketplace affirms Rod’s research findings that EBIT valuations are in fact outperforming recurring revenue valuations.
In No More Practice 4, Jim Taggart is on a journey to maximise his earn out following the sale of his practice to Austbrokers. A key part of my role in the show involves brokering the deal and advising Jim along the way as he seeks to maximise his earn out.
Hear from Steve Prendeville, Founder and Managing Director of Forte Asset Solutions, as he […]
A case study of how one practice implemented managed accounts, increased efficiency, and created value for their clients.
The most important element of advice practice valuation is the legacy the business leaves behind, says Forte Asset Solutions director Steve Prendeville.
"Hope is not a strategy." This is how veteran practice consultant, Jim Stackpool from Strategic Consulting and Training, sums up the situation facing financial planners in the brave new FoFA, post-GFC world.
In the latest episode of the ifa Show, host Maja Garaca Djurdjevic sits down with […]
In this podcast Scott chats with Founder and Director of Forte Asset Solutions Pty Ltd, […]
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by founder […]
In a 90 minute presentation given at the 2021 PIFA symposium, Steve Prendeville discusses the […]
What is the outlook for buyers and sellers of advice practices over the next 5 […]
With the changes experienced by business owners through COVID and the continuing legislative pressure, it’s […]
Praemium’s Head of Distribution Martin Morris talks to Steve Prendeville of Forte Asset Solutions, a […]
2020 was a rocky year for practice valuations, with AMP’s landmark decision to revalue its […]
Contrary to popular belief, the adviser exodus has not led to a flood of practices […]
Steve Prendeville joins the CEO of Shartru Wealth Management, Robert Coyte. They talk about a […]
Practice Valuations during a pandemic Steve Prendeville: 17:23 – 34:41
Hear from Steve Prendeville, Founder and Managing Director of Forte Asset Solutions, as he […]
Forte Asset Solutions Managing Director, Steve Prendeville, sat down with the National Business Developer […]
HUB24 Head of Managed Portfolios Brett Mennie discusses with Forte Asset Solutions Managing Director Steve […]
Forte’s Steve Prendeville recently participated in the hugely successful “ No More Practice” produced by Evo TV. The programme featured on Sky Business and followed the journey of one of Forte’s clients Jim Taggart of the Taggart group post the selling of his business.
You can view the full Market Commentary by clicking the button below. We are pleased […]
While there is renewed confidence in advice, businesses are at full capacity while facing talent […]
In the latest episode of the ifa Show, host Maja Garaca Djurdjevic sits down with […]
In this podcast Scott chats with Founder and Director of Forte Asset Solutions Pty Ltd, […]
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by founder […]
Despite the cloud of negativity that descended on the financial advice industry several years ago, […]
“We’re well on our way to bridging the trust deficit in advice with the exit […]
“There is expected to be an increase in merger activity in the adviser businesses within […]
You can view the full Market Commentary by clicking the button below. 2021, a year […]
The changes over the last three years have created a high level of stress within […]
In a 7 part Expert Interview series, Forte’s principle Steve Prendeville joins Russell Pearson from […]
With the changes experienced by business owners through COVID and the continuing legislative pressure, it’s […]
2020 was a rocky year for practice valuations, with AMP’s landmark decision to revalue its […]
“They used to have no value,” Prendeville says. “Now the average value is probably close […]
“It is the most significant disruption and structural change in the history of the industry,” […]
“The movement is away from the largest dealer groups to the smaller independent boutiques, and […]
With more instos expected to exit the advice space, the option for aligned advisers to branch out together like Crestone Wealth Management would be “extremely difficult” to execute, says Steve Prendeville, director of Forte Asset Solutions.
The wealth arms at major banks have endured “substantial brand damage” over the years, which is one of the key reasons some are exiting the advice space, says business consultant Steve Prendeville.
Netwealth has engaged business consultant Steve Prendeville to sell its Pathway compliance business, which has already received “significant” interest from potential buyers.
The revelation that NAB has assisted aligned practices to obtain their own AFSLs is welcome news. But it also proves the jig is up for institutional control of Australia's advice practices.
The migration of advice practices from institutional to non-aligned channels presents a specific challenge alongside the opportunities, says an industry analyst and expert.
The year ahead will test the mettle of non-aligned dealer groups looking to cash in on the migration of advisers away from the institutional sector.
A former senior manager within the IOOF financial advice network has joined Steve Prendeville’s dealer services consultancy to help match advisers to appropriate licensees.
The migration of advisers to mid-tier non-aligned dealer groups is an opportunity they may be ill-equipped for, says M&A consultant Steve Prendeville.
Advisers leaving major institutions to join the non-aligned space are bypassing mid-tier dealer groups, which struggle to maintain an independent culture as they grow, an industry analyst has said.
Research from American consulting firm Cerulli Associates has found US advisers are underprepared for their retirement, but an expert cautions that the situation is worse in Australia.
On the sidelines of the AIOFP conference in Tokyo, Japan, M&A consultant Steve Prendeville joins The ifa Show to chat about the increasing influence of foreign buyers in Australian financial services. We discuss some major recent deals, ones on the horizon and the impact for advisers and licensees. We also speak with Malcolm Whitten of Nikko Asset Management about the strategy behind the Nikko AM Australian Share Income Fund.
Financial advice network Fitzpatricks Group has received capital funding from two private equity investors, leading one analyst to tip further deal activity of this kind.
The financial services landscape will alter significantly in 2015 as offshore interests and domestic private equity players establish themselves, predicts a business broker and consultant. Speaking to InvestorDaily, Forte Asset Solutions managing director Stephen Prendeville – who is the former chief executive of Deloitte Financial Services – said the primary trend throughout the year will be a "mass movement" away from institutionally owned dealer groups.
My last IFA contribution (September 2014) looked at external factors that impact industry valuations. I skirted the elephant in the room – that is, the application of recurring revenue and/or EBIT and the more controversial question of why accounting firms trade at one times and financial planning practices trade at three times.
The most important element of advice practice valuation is the legacy the business leaves behind, says Forte Asset Solutions director Steve Prendeville.
Financial advice practice valuations have returned to their long-term average of three times recurring revenue, says Forte Asset Solutions director Steve Prendeville.
An M&A consultant is seeing increasing interest from large broker groups eager to acquire financial planning businesses.
My Dealer Group director Anne Fuchs has been recruited to a full-time position at the AFA, with M&A consultant Steve Prendeville taking over her licensee matchmaking business.
The industry is evolving and savvy operators need to ride the waves of change to maximise the value of their business
Accountants will need to move to protect their role in the SMSF sector as auditors come under threat from new technology solutions, according to industry consultant Steve Prendeville.
"It's the first time in 10 years I've seen an absence of buyers" says Stephen Prendeville, managing director of specialist financial planning practice broker Forte Asset Solutions.
As a broker of advisory practices, I was keenly interested in Rod Bertino’s article on valuations in last week’s Reality Check. My recent experience in the marketplace affirms Rod’s research findings that EBIT valuations are in fact outperforming recurring revenue valuations.
The revolution reshaping financial services has already produced 10 major takeovers worth more than $14.5 billion, involving thousands of financial advisers and hundreds of billions in funds under management. Reform critics claim it has abandoned more than 30 years of improved consumer choice by sacrificing advisers, created barriers to entry and surrendered more power to the big banks and other powerful conglomerates.
Although competition and change can be a threat, they also bring opportunities. Last month, Financial Planning explored the many challenges buffeting the planning industry. While the outlook was sobering, there are still many causes for optimism.
While they might not be donning running shoes and doing sprint trials, many financial planners probably feel their life is almost as competitive as that of a professional athlete.
Merger and acquisition activity across Australia's practice and listed advisory sectors is expected to significantly increase this year with buoyant markets enticing advice principals and new entrants to seize opportunities.
Older planners who have been deferring their retirement plans are putting their businesses up for sale as markets improve, according to Forte Asset Solutions director Stephen Prendeville.
The prolonged lull in investments markets, coupled with the pressure to comply with the new regulatory regime, is taking its toll on some financial planners' mental health.
Non-aligned dealer groups that are not currently also product manufacturers will need to think creatively to deal with a revenue black hole caused by the removal of volume rebates, according to compliance experts.
Financial advisers who are viewing institutions as a "safe port in the storm" may be tempted to venture back to a boutique or non-aligned business model when we eventually return to a growth or bull market, according to the Forte Asset Solutions director Steve Prendeville.
"Hope is not a strategy." This is how veteran practice consultant, Jim Stackpool from Strategic Consulting and Training, sums up the situation facing financial planners in the brave new FoFA, post-GFC world.
A perception that volume rebates from product issuers to dealer groups will be allowed "in some shape or form" led to a turnaround in practice values at the end of last year, according to Forte Asset Solutions director Stephen Prendeville.
Financial stress and fears about wide ranging regulatory changes have contributed to a doubling of advisers putting their business up for sale during the past 12 months.
There has been unprecedented activity over the past 12 to 18 months in terms of practice sales, and it is possible the clarity provided by the latest Future of Financial Advice (FOFA) announcements could prompt a further pick-up leading into the 1 July 2012 implementation date.
Planning practices looking to expand are finding it increasingly difficult to source funding, as banks tighten their lending criteria amid economic and regulatory uncertainty.
The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning Business Deloitte Financial Services in 2001 when he was a partner of Deloitte Touche Tohmatsu. Steve was the founding partner of Kenyon Prendeville in 2003 and in May 2011 Steve sought to evolve the business model to the next level and created Forte Asset Solutions.
You can view the full Market Commentary by clicking the button below. We are pleased […]
Steve Prendeville sits down with Garry Crole to discuss the general overview of the industry […]
While there is renewed confidence in advice, businesses are at full capacity while facing talent […]
In the latest episode of the ifa Show, host Maja Garaca Djurdjevic sits down with […]
Half a decade has passed since the conclusion of the damning Hayne royal commission and […]
In this episode of the ifa Show, host Keith Ford is joined by Steve Prendeville, […]
For the first time in years, the financial advice market is seeing tailwinds rather than […]
An industry professional predicts the proliferation of merger activity and the birth of “super boutiques” […]
Join Steve Prendeville and Jared Timms in this informative video as they discuss the intriguing […]
It is not clear yet whether the increase to the ASIC levy for advisers will […]
In this podcast Scott chats with Founder and Director of Forte Asset Solutions Pty Ltd, […]
Forte Asset Solutions’ Managing Director has just celebrated his 20th year anniversary of selling and […]
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by founder […]
Despite the cloud of negativity that descended on the financial advice industry several years ago, […]
“We’re well on our way to bridging the trust deficit in advice with the exit […]
“There is expected to be an increase in merger activity in the adviser businesses within […]
You can view the full Market Commentary by clicking the button below. 2021, a year […]
The changes over the last three years have created a high level of stress within […]
In a 90 minute presentation given at the 2021 PIFA symposium, Steve Prendeville discusses the […]
There are a number of variables which help attribute to the valuation multiple of a […]
In a 7 part Expert Interview series, Forte’s principle Steve Prendeville joins Russell Pearson from […]
What is the outlook for buyers and sellers of advice practices over the next 5 […]
Current average profit levels in adviser practices are drastically below what is needed for them […]
2020 a year that will forever be in the global collective consciousness for the social, […]
With the changes experienced by business owners through COVID and the continuing legislative pressure, it’s […]
Praemium’s Head of Distribution Martin Morris talks to Steve Prendeville of Forte Asset Solutions, a […]
In a time where there is so much uncertainty, businesses that can showcase predictability and […]
2020 was a rocky year for practice valuations, with AMP’s landmark decision to revalue its […]
Contrary to popular belief, the adviser exodus has not led to a flood of practices […]
PREPARING YOUR BUSINESS FOR SALE In our initial meetings we discuss market values, the sales […]
DEVELOP A BUYING STRATEGY Create a clear written strategy including what you want and why, […]
“They used to have no value,” Prendeville says. “Now the average value is probably close […]
Steve Prendeville joins the CEO of Shartru Wealth Management, Robert Coyte. They talk about a […]
“It is the most significant disruption and structural change in the history of the industry,” […]
Practice Valuations during a pandemic Steve Prendeville: 17:23 – 34:41
Hear from Steve Prendeville, Founder and Managing Director of Forte Asset Solutions, as he […]
Forte Asset Solutions Managing Director, Steve Prendeville, sat down with the National Business Developer […]
HUB24 Head of Managed Portfolios Brett Mennie discusses with Forte Asset Solutions Managing Director Steve […]
Valuations in a pandemic: Full Report Below What a difference a week, a month and […]
“The movement is away from the largest dealer groups to the smaller independent boutiques, and […]
Following the shocking revelations of the Royal Commission, the landscape of the financial services industry is forever changed. In
A case study of how one practice implemented managed accounts, increased efficiency, and created value for their clients.
The exploratory themes of this paper are: The immediate impact of the Royal Commission, the continuing and accelerating adviser migrations, Dover Financial planning demise, FASEA and their impact on the industry, grandfathered revenue, recent transactions, current valuations, the future.
I watched the spectacle of the Royal Commission into the Misconduct into the Banking, Superannuation and Financial Services Industry (RC) via live streaming. It felt like I was watching an episode of Game of Thrones with shocking revelations and blood everywhere. It is only post the shock that we have had the time to digest and think about the ramifications of what we have just witnessed.
Forte’s Steve Prendeville recently participated in the hugely successful “ No More Practice” produced by Evo TV. The programme featured on Sky Business and followed the journey of one of Forte’s clients Jim Taggart of the Taggart group post the selling of his business.
With more instos expected to exit the advice space, the option for aligned advisers to branch out together like Crestone Wealth Management would be “extremely difficult” to execute, says Steve Prendeville, director of Forte Asset Solutions.
The wealth arms at major banks have endured “substantial brand damage” over the years, which is one of the key reasons some are exiting the advice space, says business consultant Steve Prendeville.
Netwealth has engaged business consultant Steve Prendeville to sell its Pathway compliance business, which has already received “significant” interest from potential buyers.
The revelation that NAB has assisted aligned practices to obtain their own AFSLs is welcome news. But it also proves the jig is up for institutional control of Australia's advice practices.
The migration of advice practices from institutional to non-aligned channels presents a specific challenge alongside the opportunities, says an industry analyst and expert.
The year ahead will test the mettle of non-aligned dealer groups looking to cash in on the migration of advisers away from the institutional sector.
A former senior manager within the IOOF financial advice network has joined Steve Prendeville’s dealer services consultancy to help match advisers to appropriate licensees.
The migration of advisers to mid-tier non-aligned dealer groups is an opportunity they may be ill-equipped for, says M&A consultant Steve Prendeville.
Advisers leaving major institutions to join the non-aligned space are bypassing mid-tier dealer groups, which struggle to maintain an independent culture as they grow, an industry analyst has said.
Research from American consulting firm Cerulli Associates has found US advisers are underprepared for their retirement, but an expert cautions that the situation is worse in Australia.
On the sidelines of the AIOFP conference in Tokyo, Japan, M&A consultant Steve Prendeville joins The ifa Show to chat about the increasing influence of foreign buyers in Australian financial services. We discuss some major recent deals, ones on the horizon and the impact for advisers and licensees. We also speak with Malcolm Whitten of Nikko Asset Management about the strategy behind the Nikko AM Australian Share Income Fund.
Financial advice network Fitzpatricks Group has received capital funding from two private equity investors, leading one analyst to tip further deal activity of this kind.
On the surface, it would appear all is good with rising assets, engaged clients, better businesses and rising profits. However, by drilling deeper we can see this year is a transformational year and significant structural changes are happening or are appearing on the horizon. These changes will forever change distribution and more than likely the dominance of the current incumbents.
The prevalent theme over the year has been one of compliance. This is the continued over hang from the Commonwealth Bank Financial Planning scandal of 2014 who received an Enforceable Undertaking. Over the last 3 years we have seen Macquarie Bank receive an Enforceable Undertaking, NAB compensate 750 customers $10 to $15m for bad advice and ANZ reimburse 8,500 financial planning clients $30m.
Forte normally takes a rolling 12 month period to identify market trends but the 2015 YTD is so unusual and trends so marked we will reserve most of our comments to the period of January to June 2015.
The financial services landscape will alter significantly in 2015 as offshore interests and domestic private equity players establish themselves, predicts a business broker and consultant. Speaking to InvestorDaily, Forte Asset Solutions managing director Stephen Prendeville – who is the former chief executive of Deloitte Financial Services – said the primary trend throughout the year will be a "mass movement" away from institutionally owned dealer groups.
My last IFA contribution (September 2014) looked at external factors that impact industry valuations. I skirted the elephant in the room – that is, the application of recurring revenue and/or EBIT and the more controversial question of why accounting firms trade at one times and financial planning practices trade at three times.
The most important element of advice practice valuation is the legacy the business leaves behind, says Forte Asset Solutions director Steve Prendeville.
Financial advice practice valuations have returned to their long-term average of three times recurring revenue, says Forte Asset Solutions director Steve Prendeville.
An M&A consultant is seeing increasing interest from large broker groups eager to acquire financial planning businesses.
My Dealer Group director Anne Fuchs has been recruited to a full-time position at the AFA, with M&A consultant Steve Prendeville taking over her licensee matchmaking business.
The industry is evolving and savvy operators need to ride the waves of change to maximise the value of their business
2013 finished with a whimper, however, with a message of hope when the new government's spokesman Arthur Sinodinos made comments indicating delivery of pre- election promises in December. Buyers, buoyed by new confidence, immediately came back to market in 2014, but not sellers, who remained cautiously on the sidelines.
An artificial Merger and Acquisition freeze was created in Financial Services and the wider community due to political and legislative uncertainty through the period from when Julia Gillard, on the 30th of January 2013, called the election date for September the 14th, followed by Kevin Rudd on June 27th calling the 4th of August. Additionally the date of July 1 2013 was the introduction of the "Future Of Financial Advise ( FOFA)" which caused further stagnation and introversion within our industry.
The year for merger and acquisition activity came to a crashing end before it had really begun. When Prime Minister Julia Gillard called the election on the 30th January to be held September the 14th, the market for financial services businesses went into an immediate hold pattern.
Accountants will need to move to protect their role in the SMSF sector as auditors come under threat from new technology solutions, according to industry consultant Steve Prendeville.
"It's the first time in 10 years I've seen an absence of buyers" says Stephen Prendeville, managing director of specialist financial planning practice broker Forte Asset Solutions.
As a broker of advisory practices, I was keenly interested in Rod Bertino’s article on valuations in last week’s Reality Check. My recent experience in the marketplace affirms Rod’s research findings that EBIT valuations are in fact outperforming recurring revenue valuations.
The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning Business Deloitte Financial Services in 2001 when he was a partner of Deloitte Touche Tohmatsu.
The revolution reshaping financial services has already produced 10 major takeovers worth more than $14.5 billion, involving thousands of financial advisers and hundreds of billions in funds under management. Reform critics claim it has abandoned more than 30 years of improved consumer choice by sacrificing advisers, created barriers to entry and surrendered more power to the big banks and other powerful conglomerates.
Although competition and change can be a threat, they also bring opportunities. Last month, Financial Planning explored the many challenges buffeting the planning industry. While the outlook was sobering, there are still many causes for optimism.
In No More Practice 4, Jim Taggart is on a journey to maximise his earn out following the sale of his practice to Austbrokers. A key part of my role in the show involves brokering the deal and advising Jim along the way as he seeks to maximise his earn out.
While they might not be donning running shoes and doing sprint trials, many financial planners probably feel their life is almost as competitive as that of a professional athlete.
Merger and acquisition activity across Australia's practice and listed advisory sectors is expected to significantly increase this year with buoyant markets enticing advice principals and new entrants to seize opportunities.
Older planners who have been deferring their retirement plans are putting their businesses up for sale as markets improve, according to Forte Asset Solutions director Stephen Prendeville.
The prolonged lull in investments markets, coupled with the pressure to comply with the new regulatory regime, is taking its toll on some financial planners' mental health.
Non-aligned dealer groups that are not currently also product manufacturers will need to think creatively to deal with a revenue black hole caused by the removal of volume rebates, according to compliance experts.
Financial advisers who are viewing institutions as a "safe port in the storm" may be tempted to venture back to a boutique or non-aligned business model when we eventually return to a growth or bull market, according to the Forte Asset Solutions director Steve Prendeville.
"Hope is not a strategy." This is how veteran practice consultant, Jim Stackpool from Strategic Consulting and Training, sums up the situation facing financial planners in the brave new FoFA, post-GFC world.
Financial planning practice valuations have returned to three times recurring revenue as weak supply fails to meet demand, according to Forte Asset Solutions director Steve Prendeville.
The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning Business Deloitte Financial Services in 2001 when he was a partner of Deloitte Touche Tohmatsu.
The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning Business Deloitte Financial Services in 2001 when he was a partner of Deloitte Touche Tohmatsu.
A perception that volume rebates from product issuers to dealer groups will be allowed "in some shape or form" led to a turnaround in practice values at the end of last year, according to Forte Asset Solutions director Stephen Prendeville.
The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning Business Deloitte Financial Services in 2001 when he was a partner of Deloitte Touche Tohmatsu. Steve was the founding partner of Kenyon Prendeville in 2003 and in May 2011 Steve sought to evolve the business model to the next level and created Forte Asset Solutions. Thank you for your continuing support.
Forte has retained the database of Kenyon Prendeville and all previous registered buyers information has been maintained to provide ongoing service and communication.
Financial stress and fears about wide ranging regulatory changes have contributed to a doubling of advisers putting their business up for sale during the past 12 months.
There has been unprecedented activity over the past 12 to 18 months in terms of practice sales, and it is possible the clarity provided by the latest Future of Financial Advice (FOFA) announcements could prompt a further pick-up leading into the 1 July 2012 implementation date.
Planning practices looking to expand are finding it increasingly difficult to source funding, as banks tighten their lending criteria amid economic and regulatory uncertainty.
The expertise of Forte is forged from the personal experience of Steve Prendeville selling his own national Dealer Group and Financial Planning Business Deloitte Financial Services in 2001 when he was a partner of Deloitte Touche Tohmatsu. Steve was the founding partner of Kenyon Prendeville in 2003 and in May 2011 Steve sought to evolve the business model to the next level and created Forte Asset Solutions.
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