Capstone Financial Planning has plans to build its national footprint this year, with the dealer group recently opening up three advisory practices in New South Wales, Queensland and Perth.
While building more of a presence in New South Wales and Queensland has been a focus for Capstone in recent times, the dealer group is now looking to opportunities in other states, Capstone managing director Grant O’Riley told InvestorDaily.
“Absolutely we’re looking to other states – we’ve got discussions in every state at the moment and they’re very good discussions. I think a lot of practices that were interested in moving last year didn’t because they just wanted to ride the wave,” he said.
“While most of our focus at the moment is on the eastern seaboard, we do have good discussions going on in South Australia and Western Australia, and Victoria for us is always on autopilot because our head office is there.”
Capstone expected to grow by another five planning practices by June this year, O’Riley said.
“Our growth is still very strong and we’ve got an enormous recruiting enquiry at the moment,” he said.
“But we look for quality, not quantity. We don’t run around like some of our competitors that say they’re going to recruit 100 advisers in three years – no one has ever done that, it’s all rubbish.
“There’s a lot of players in the market that recruit 30, 40, 50 advisers in a year but they’re not genuine financial advisers. For example, a licensee will say they have 120 advisers but then you look at it and they’ve only got $1 billion in funds under advice.”
