Charter Financial Planning has been named the Institutional-owned Dealer Group of the Year while Dover Financial Advisers has been named Independently-owned Dealer Group of the Year. The runners-up were Financial Wisdom in the institutionally-owned dealer group segment and Synchron in the independent dealer group category.
The winners were decided by analysing data from the Money Management Top 100 Dealer Groups findings using a weighting of the groups’ funds under advice per adviser and adviser growth over the past 12 months.
Charter posted strong adviser growth and high levels of funds under advice per adviser among institutionally aligned planning groups as did Dover among non-institutionally aligned planning groups.
While both were winners the differences between the institutional and non-institutional groups were clear. While Dover had 283 planners, Charter had three times as many planners. However the difference was more pronounced with Charter reporting 12 times the funds under advice of Dover.
Despite this Dover showed that it competed well with its larger rival which had a funds under advice ratio per planner only four times larger than that of the non-aligned financial planning group.
Among corporate groups providing financial planning advice State Super Financial Services recorded solid planner growth and high levels of funds under advice per adviser followed by Industry Fund Services who also had high levels of funds under advice per adviser but had muted planner growth since 2013.