Burgeoning BT dealer group Magnitude Financial Planning (Magnitude) has honed in on the lucrative North Queensland market by opening its third office in less than five months.
Mackay financial adviser James Wortley will brand his practice under the Magnitude name and align his practice with two other businesses in the region.
He joins new Magnitude advisers Brent Kelly and Wayne Bowes in Cairns and Dennis Di Bartolo and Steve Jenkosky servicing the Townsville region.
Wortley was formerly working under Westpac Financial Planning, whose parent owns BT Financial Group.
The practices are targeting the superannuation needs of baby boomers, retiree and small business owners in the region.
“The right financial advice and retirement planning is a fundamental issue facing many residents living in far North Queensland,” Jenkosky said.
“Good financial advice has become even more relevant since the introduction of major superannuation changes.”
Partnering with the North Queensland practices was a further step in growing the Magnitude network, the dealer’s chief executive Mark Spiers said.
Magnitude began in February 2006 and now has 16 practices and around 30 advisers.
Last month it announced a deal with accountancy firm Hayes Knight to start an accountant-centric dealer group called Merit Wealth, starting out of Sydney.
