Now Financial Group is set to increase its adviser numbers after the firm added a number of financial advisers to its network and is in discussions with a further nine firms.
The boutique financial planning firm, which has eight firms and 31 advisers, was on track to double in size in the next 12 to 18 months, company director Perry Wilkey told InvestorDaily.
"We have exceeded our expectations and are now fully self-sufficient and meeting our budget expectations, so growth will not be for the sake of growth," Wilkey said.
"We are only looking to add firms that will add value to our cooperative [structure] and fit our culture.
"We currently have nine firms that have expressed interest in joining Now Financial, which we are working through to see if there is synergy and that it will be mutually beneficial."
He said he attributed the company's success to its cooperative and transparent business structure, which had no subsidising.
"We are always going through a continuous improvement process, with all firms not only part of the improvement process but actively involved in the implementation - the old saying 'if you are not part of the solution, you are part of the problem'," he said.
The company's plans for further growth involve referrals from product manufacturers and word-of-mouth through the adviser community.
In July, Now Financial announced it achieved strong growth in its first six months of operation.
At the time, the company had secured seven member practices, 28 advisers, $1 billion in funds under management and $416 million of in-force insurance since its launch.
