ING looks at forming broker dealer group
ING is floating the idea of forming a broker dealer group with advisers currently in its aligned groups The Portfolio Group (TPG) and Accrue.
Friday, September 9th 2005, 6:54AM
It says in a discussion paper circulated yesterday that a broker dealer group is likely to help advisers with succession planning, increase their business value, improve brand awareness and provide economies of scale.
There are a many broker dealer groups in Australia and Money Managers is cited as an example of one in New Zealand, although the paper’s author David Greenslade says there are many ways of structuring a group.
Greenslade says the members of a broker dealer group would need to be “philosophically aligned and prepared to abide by the rules of a chosen network”, plus they would have “a desire to utilise some ING products”, contract out services to the company he runs – Strategi, and use ING’s master trust or wrap service.
He says that over the coming months TPG and Accrue advisers “may be encouraged to breakaway” from their current arrangements “by various purveyors of dealer groups”, and he urges them not to move.
“We advise you to openly and honestly engage in the debate so we can develop structures from the ground up, rather than you jumping into the first network you are exposed to that appears better than what you are currently in.”
“Anyone promising large dividends or capital gains from the dealer network they are promoting should be viewed with a degree of scepticism.”
| « NZ Super Fund goes for index management | Sovereign takes regulation bull by the horns » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
