Pierre Kraft

Advice389, the newly-established Countplus subsidiary, yesterday announced the successful completion of its first partnership agreement with leading financial advice firm, Hunter Financial. Advice389 has purchased a 40% stake in the Newcastle-based firm. The sale was completed in early August.

Commenting on the partnership agreement, CEO of Advice389, Pierre Kraft, said that his team had evaluated a number of firms on the basis of strict criteria, including professionalism, the quality of their business model and their ability to grow, but it soon became clear that Hunter Financial would make the ideal foundation partner.

“That’s why we are so pleased to announce this first partnership with Hunter, because it really sets the standard for future partnerships with other financial advice firms,” Mr Kraft said.

Mr Kraft went on to say that Hunter Financial is a highly-regarded market leader with an unparalleled reputation for providing clients with high-quality, professional financial advice.

“Hunter has been growing very well organically, but is looking to step up to the next level, with help from Advice389. Our role is to facilitate that growth by investing in the business, while at the same time allowing Hunter to retain its branding and entrepreneurial control,” Mr Kraft said.

Mr Kraft said that Advice389’s business model is founded on the belief that a shared equity model means partner firms stay independent, but have access not only to capital, but to proven corporate best practice, a high calibre network of peers and business advice from leaders in the field.

“This means our partners can pursue growth opportunities not just for their business, but for their staff, knowing they are supported by one of the most respected professional services groups in Australia; Advice389 and its parent company, Countplus,” Mr Kraft said.

Director and CEO of Hunter Financial, Brian Kennaugh, said that he was attracted to Advice389 because the shared equity model allows Hunter Financial to stay independent and autonomous, while at the same time evolving with the help of a major listed partner.

“For us, the benefits of the partnership are twofold,” he said.

“First and foremost, the support we receive from Advice389 will enable us to continue to act in the best interests of our clients by providing outstanding professional advice. Secondly, our staff will benefit from many more opportunities as they pursue a career in financial advice,” Mr Kennaugh said.

In conclusion, Mr Kraft said that this first partnership with Hunter is the beginning of what he hopes will be a number of successful agreements with other quality financial advice firms around Australia.

“We’re off to a flying start with Hunter, and we expect to go from strength to strength when the success of this first partnership demonstrates the benefits of our equity partner model.

“Because when both parties benefit, it’s the definition of a win-win,” he said.

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The new business, set to officially launch in mid-May, will look to partner with quality financial planning firms through a shared equity model. In his role as CEO, Mr Kraft will be responsible for driving the business’ strategic direction and delivering on growth targets, while providing leadership support to Advice389’s partner principals.

Currently Mr Kraft is Director and Executive Chairman of TFS Group, a wholly owned subsidiary of Countplus, a role he will maintain. Prior to joining TFS and Countplus, he was Managing Director and Partner at Aon Hewitt Wealth Management, which he built into a fully integrated Wealth Management business across Australia. During his time at Aon, he also launched Wealth Management in Asia, as chair of the Asian Wealth Management Project. During his career, he also had various roles at MLC, including leading one of its largest projects – AdviserCentral.

Phil Aris, CEO of Countplus, commented on the appointment: “We’re proud to be launching Advice389, and we’re looking forward to helping the right financial planning firms grow and succeed. Pierre has a deep understanding of the financial advice industry and comprehensive experience in managing and growing businesses in this sector. His expertise rounds out our fantastic leadership team and offers our partner firms access to deep capability that will ensure growth and success for their businesses.”

Mr Kraft commenced his role in February, and reports directly to Phil Aris.

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AON authorised to by APRA for MySuper from 2104.

The Aon Master Trust has received its MySuper authorisation from the Australian Prudential Regulation Authority. On 1 January 2014, the Aon Master Trust will launch Aon MySuper.

Pierre Kraft, Managing Director, Aon Hewitt Wealth Management commented on the authorisation: “This is an important announcement for the Aon Master Trust. It provides confidence to our members, employers and stakeholders that we are prepared and compliant for the changes in superannuation as we continue to deliver quality retirement products and solutions.”

Aon MySuper’s investment option takes a lifecycle approach. The investment mix will adjust gradually as members age; with greater focus on growth assets when they are younger, then moving towards defensive assets as they approach retirement to reduce the risks of capital loss. The Aon Master Trust has innovated by making the adjustments on an annual basis from age 42 for a smooth transition towards capital security at age 67.

The Aon Master Trust is a national retail superannuation fund established in 1990 with close to 56,000 members and $2.5 billion in funds under management.

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