Andrew Fairweather
Fitzpatricks Advice Partners has released a practical guide on how to build a national advice firm, targeting principal advisers looking to scale their business and grow in order to serve more clients.
Titled Building a national advice firm: Critical factors for growth and expansion, the guide draws on Fitzpatricks Advice Partners’ almost 40 years of history and experience, originally as a boutique advisory practice in Brisbane to a national advice firm with offices in key Australian capital cities and regional locations.
The guide examines four key attributes of successful national firms, and provides tips on how to foster unity and alignment, and develop a strong culture and community.
It also details the benefits of being part of a national firm for advisers, employees and clients including clear, consistent principles and values, and an aligned approach to the delivery of service and advice.
Andrew Fairweather, Chief Executive Officer of Fitzpatricks Financial Group and Co-author of the guide, said that national advice firms had an important role to play in building a thriving advice profession, attracting talent, and supporting advisers to efficiently deliver quality advice at scale.
“Small businesses are the engine room of the Australian economy and dominate the advice landscape, but there’s room for businesses of all different sizes and the entire financial services eco-system needs to support and encourage ambitious advisers to significantly grow their businesses if we hope to close the advice gap,” he said.
“We have put together this guide to share some of the strategies and initiatives that have helped Fitzpatricks Adivce Partners become a purpose-driven national firm that is partnering with advisers to drive strong client and business outcomes.”
Debbie Jensen, Head of Marketing and Client Value Proposition at Fitzpatricks Advice Partners and Co-author of the guide, said: “We’re seeing a trend of advice businesses getting bigger through a combination of M&A and organic activity, and with this growth comes additional opportunities and considerations”.
“This guide distills almost four decades of learning and experience into a short paper to inspire advisers and business owners to develop a national firm strategy and ensure the right foundations are in place to see them flourish and achieve their long-term goals,” she said.
Read Building a national advice firm: Critical factors for growth and expansion.