Introducing our new Australian Financial Services Licence
October 18, 2018 - 3:00
Kearney Group today announced that its nationally recognised Financial Planning division, Kearney Financial Planning, will soon commence operating under its own Australian Financial Services Licence (AFSL) Imagineering FS Pty Ltd, ending the firm's 20 year affiliation with Securitor Financial Group.
Kearney Financial Planning has been licenced by Securitor since the firm's inception in the 1990s.
Group Founder and CEO, Paul Kearney, noted Securitor's foundations in professional accounting and its "arms-length" support services were what initially attracted his attention.
"When we were first setting up our financial planning division," says Kearney, "we wanted a licensor that understood or at least appreciated our multidisciplinary service. We liked Securitor's accounting background which we believed brought a level of professionalism and an ethics framework to their offering. This is no small thing given financial planning, as a profession, was truly in its infancy. And ultimately, we wanted 'hands-off' licensee services that would allow us to make recommendations, genuinely in the best interests of our clients and without interference. Securitor ticked those boxes for us at the time."
After two decades, Kearney Financial Planning will dive headlong into self-licensing in only a couple weeks' time.
"The business is now much larger and more mature. Our needs have changed," said Kearney, "It's been our view for some time that licencing and advice will decentralise. Given our current position, our desire to help shape the future of financial advice in Australia and the ever-changing landscape of our profession, we thought it was the right time to make our next move."
"We've had a great 20 years with Securitor," Kearney added, "We're thankful for their support as we've grown and we look forward to taking on this new challenge."
Kearney Financial Planning is scheduled to begin operating as a Corporate Authorised Representative of Imagineering FS Pty Ltd ABN 41 627 350 636, AFSL 510873 on 2 November 2018. Kearney Financial Planning will simultaneously cease affiliation with, and operations as a Corporate Authorised Representative of, Securitor Financial Group Pty Ltd. Imagineering FS Pty Ltd will be responsible for all future advice and activities undertaken in relation to the financial planning services provided by the firm.