Eight Guardian Financial Planning big-hitters have left to form a new dealer group focused on providing risk insurance to top-end clients.
Four Points Financial Services is headed by former Guardian Financial Planning general manager Ian Lewis and has 22 advisers in eight practices across Australia, except in South Australia.
It gained an Australian Financial Services Licence in June and opened for business three weeks ago.
“The main attraction was like-minded people who view institutionally owned dealer groups as having a kind of one-size-fits-all approach,” Lewis told InvestorDaily.
“These advisers are big-hitters and high-flyers that don’t need all the dealer group hand-holding and services. Together we will grow their business further and grow together.”
The dealer group is run as a cooperative where authorised representatives share the running costs. Its headquarters are in Queanbeyan.
It has a firm focus on the niche of writing risk insurance to high net worth clients. Its advisers have mature client bases.
“We intend to remain very boutique. There aren’t too many dealer groups doing what we are, so I wouldn’t be surprised if we pick up another 10 to 15 advisers by the end of the year,” Lewis said.
Lewis worked in financial product sales and distribution for 22 years. He left Guardian as general manager in 2003 and returned to work for the group as an adviser in early 2004.
