Centric Wealth is searching for like-minded advisers to add to its team, although adviser interest has generally been low.
“We’re keen to get some more advisers on board who want to work in a non-aligned environment,” Centric Wealth chief executive Phil Kearns told InvestorDaily.
Two female advisers joined the company a few months ago and future additions would be across the board rather than having a preference for senior advisers, Kearns said.
“We’ve certainly got the ability to take more advisers on and we’ve got a pretty strong emphasis here on training and education,” he said.
“If we can bring some young advisers through and train them up, we’re thrilled to do that. We’re just looking for new people with the right attitude to bring into the organisation.”
Centric currently has 34 advisers across financial planning, with a total of 50 including risk and lending advisers.
No specific target has been set for further adviser numbers.
Given the challenging environment, adviser enquiries and interest had been low due to the changes the company was experiencing six months ago, as well as the recent “Count and Westpac war” that had resulted in general confusion in the market, Kearns said.
Centric did not pay transition or sign-on bonuses, he said.
“If people want to work for a non-aligned organisation where people are rewarded on results and are remunerated fairly, we’re happy to talk to them,” he said.
In addition, the company is looking to open an office in Perth before the end of the year.
“We’d like to [open it] by the end of the year, but it’s got to be the right people who we can work really well with, are similarly engaged and can work under our structure,” Kearns said.
“If they’re philosophically aligned, then potentially we’ll have a good match.”
The company is also aiming to ensure its three offerings – risk/insurance, lending and financial planning – are available across all its offices.
“We’re quite positive about getting a few more advisers on board and we’re pretty optimistic about where we’re heading in the next 12 months,” Kearns said.
“We’re trying to build this long-term sustainable business and as we do that we’re getting stronger and stronger. The past is well and truly behind us.”
Kearns was appointed in December last year, filling the vacany left by John McMurdo, who departed suddenly last July. As a result, more than 10 executive and support staff departed Centric in October.
McMurdo is now group managing director of Fitzpatricks Private Wealth.
