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.

Stephen Southwood has been announced as the new associate director of Forte Dealer Solutions, having previously been a senior official in Victoria with IOOF’s Lonsdale Financial Group. Before that he gained experience with AMP, BT and Macquarie.

Forte Dealer Solutions’ managing director Steve Prendeville told ifa his new recruit shares a belief that “one size does not fit all” and that different advisers are suited to different dealer groups from a cultural perspective.

“Dealer choice can have a significant impact on your businesses success,” Mr Prendeville said. “Despite what appears to be some common value propositions across all dealers, often overlooked by many is the cultural fit and similar collaborative businesses sharing experiences and a collective vision of best practice.”

With many advisers leaving the large institutionally-owned channels of late – including 600 exits from the AMP network in the past 12 months – the Forte Dealer Solutions business has seen significant demand from clients seeking new licensing arrangements, with more than 100 migrating advisers in the pipeline.

The appointment of Mr Southwood will allow Mr Prendeville to focus on his M&A consulting business, Forte Asset Solutions.

“We really needed a high-level leader for Forte Dealer Solutions,” Mr Prendeville said. “Stephen will lead the service offer and our mutual experience and contacts will assist in building our dealer intellectual property and assisting practices make the right selection.”