Boutique financial planner Now Financial Group has achieved strong growth in its first six months of operation.
The financial services company has secured seven member practices, 28 advisers, $1 billion in funds under management and $416 million of in-force insurance since its launch.
"We have certainly met our expectations. We have had to slow down the process to bed down the foundation members and core systems and processes," Now Financial Group director Perry Wilkey told InvestorDaily.
Wilkey said he attributed the company's success to its business model, which had a cooperative structure, with no subsidisation, aggregation and a shared workload approach.
"The past six months for us has been a journey of growth and taking control of our own direction, and for us that meant moving right away from an institutional franchise model," he said.
He also said the financial services company expected to achieve further growth going forward.
"We believe with the level of interest that we will double in size over the next 12 to 18 months, but [it's] not essential, we have no set goal to grow for the sake of growing," he said.
"[We are] looking for growth through the addition of new practices that will further enhance the value of Now and its current members."
