Who owns the clients in an advice business?BY SIMON GVALDA | FRIDAY, 19 FEB 2021 12:32PMOne of the main questions I am asked by employers when recruiting for financial advisers is, can the adviser bring across clients? While this request may seem harmless, it holds ... Upgrade your subscription to access this article
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Cover Story
Passing the baton
LIAM ROCHE
ADVICE ASSOCIATE
EUREKA WHITTAKER MACNAUGHT PTY LTD
ADVICE ASSOCIATE
EUREKA WHITTAKER MACNAUGHT PTY LTD
Liam Roche's experience in customer relationships and paraplanning has set him up for success as a financial adviser. Now undertaking the Professional Year, the advice associate at Eureka Whittaker Macnaught tells Karren Vergara how a new breed of advisers is flying the flag.
A point well made to clearly identify whether the practice is seeking to hire an adviser or buy a book of clients. The ethics that are expected of advisers with clients should also be evident here. Thank you.
Is the real question - 'who owns the relationship with the client?'; and if the answer is the adviser themselves, they may very well have a loyal group of clients who will follow them wherever they go. If however, the clients are entrenched in a relationship with a principal of the firm, or with the firm as a brand, then the ethical question will surely prevail.