Professional Investment Services (PIS) has no plans to further expand its adviser numbers, the head of PIS’ parent company said.
“We would like to keep our numbers at around the 1000 mark,” Professional Investment Holdings (PIH) group managing director Grahame Evans told InvestorDaily.
“I don’t think we need more numbers,” Evans said.
Late last year, it merged with ASX-listed Centrepoint Alliance Ltd (CAF).
Evans said PIS did not aim to grow any further through acquisition and was focused on bedding down its CAF tie-up.
“Our growth will come from our existing advisers as they bring in new business, not from taking on new advisers,” he said.
PIS is Australia’s second largest dealer group after AMP Financial Planning, according to the 2010 IFA Dealer Group Survey.
The group announced last week that PIS founder and chief executive Robbie Bennetts would relinquish his role after 15 years at the helm and become a part-time consultant.
