It is a new era in financial services and I’m excited to share with you some of the things we’ve done over the last 12 months to prepare us for the road ahead.

Mid last year, Naomi purchased the business from Michael and the succession plan, which has been in the making for the last 8 years, has finally come to fruition! Michael is still very much involved in the business and continues to advise his clients as an Authorised Representative. We’re pleased to have him stay on as his years of experience and breadth of skills and knowledge are an asset to the company.

For over 40 years, Tudor Investassure has delivered our services on the basis that our advice must first and foremost be in the best interest of our clients. The last decade has been turbulent and numerous legislative changes to the financial services industry have been introduced. The most recent improvements commence on 1 July 2013 and are collectively known as the Future of Financial Advice (FOFA) Reforms.  As our goal has always been to ensure that client interests were put first at all times, it is gratifying that the concept of ‘client best interest’ is now enshrined in this legislation. 

Today, to take control of the future direction of our business and further ensure the delivery of our best interest client experience, I’m delighted to announce we have transferred our corporate and individual representative licensing requirements to a boutique Australian Financial Services License (AFSL) holder, Professional Wealth Services Pty Ltd (PWS).

As a privately owned and operated AFSL holder, PWS, its Corporate Authorised Representatives and their advisers are not tied to any financial institution or fund manager. This maximises the integrity of our advice process and recommendations while reducing the chance of conflicts of interest.

Further, PWS aligns its business with Associated Advisory Practices Pty Ltd (AAP), who specialise in providing services to AFSL businesses. The AAP network consists of over 170 other “boutique” AFSL companies representing some 1,000 planners overall. AAP provides us with access to a very comprehensive range of cost-effective resources in training, research, software, business development, compliance, and back office services. As a result PWS is able to maintain its independence and autonomy as a privately owned AFS Licensee while enjoying all the benefits and economies of a large organisation assisting them in:

  • providing ongoing quality financial planning advice and client services
  • complying with their Australian Financial Services Licensee obligations
  • the future development and growth of both the Tudor Investassure and the PWS businesses, and
  • providing a substantial business partner together with a strong succession plan for the future.

As a Corporate Authorised Representative under a boutique Licensee, Tudor Investassure is now able to:

  • work closely with the Licensee and develop best practice models that fit with our business and in turn provide you with more robust, efficient and effective services,
  • differentiate our business from institutionally owned AFSL businesses and ultimately deliver to you best practice, best interest advice, and
  • gain greater assistance in the future development and growth of our business to ensure we can continue to deliver our services to you in the best possible way.

We are excited about this new path and can’t wait to tell you more when catch up with all our clients in the coming months.