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Endure - Charting Our Own Course

September 6, 2019

 

  • Endure: to remain firm without yielding; to exist over a period of time or indefinitely; stable and constant. (Merriam-Webster Dictionary)

  • The last week has seen a pivotal change in the direction of the Financial Advice Firm I am a Partner in, commencing with the provision of advice under our own Australian Financial Services Licence (AFSL) held by Endure Wealth Pty Ltd.

  • This is a unique opportunity to chart our own course and provide our clients with vision, stability, and peace of mind through quality advice during a period of unprecedented financial uncertainty.

  • Despite the challenges ahead, there lies many opportunities to better provide for the financial advice needs that our clients will require in disruptive times.

Approximately 12 months ago my Business Partners and I decided to start investigating moving away from a large dealer group AFSL, the need for which was confirmed by the Hayne Royal Commission into Banking and Financial Services, which confirmed our need to be the Master of our own destiny in charting the future course for providing our clients with their financial advice needs.


After many months of groundwork and research, our application to the Australian Securities and Investments Commission (ASIC) for our own AFSL was lodged around the same time as Westpac Bank announced they were winding up our existing AFSL provider Securitor Ltd by 30 September 2019, and in early August we received Draft Approval for our AFSL.

 

The final approval from ASIC was granted in the last week of August 2019, with 29 August marking our last day licensed under Securitor Limited, and the 30th August seeing us set sail under our own AFSL held by Endure Wealth Pty Ltd.

 

The move not only marks a change in direction for the Financial Advice Firm of the Carey Group, being Carey Financial, but also represents a North Queensland initiative by establishing a joint venture with another North Queensland ex-Securitor licensed firm, being ML Partners. With both firms servicing professionals, business and agribusiness clients from the Tablelands North of Cairns to the Burdekin South of Townsville, it made sense to work together to obtain a locally held AFSL that would allow the delivery of quality financial advice services for the mutual benefits of our clients.

 

The North Queensland region is currently poised to reap the positive benefits of a turning economic cycle, and the need for clear, timely and quality financial advice has never been greater for our clients, in an environment where technology and disruption will create opportunities for those prepared to think ahead of the curve and position themselves for success.

 

While there are many challenges to come, our move to provide quality advice for our clients through uncharted waters reminds me of the following quote on ships in harbours...

 

"A ship in harbour is safe, but that is not what ships are built for..."

(1928, J.A. Shedd, Salt from My Attic)

 

 

I for one look forward the the opportunities that lie ahead...

About ZSG: This blog is a resource for discussing things that I think matter in business, finance and investing. It aims to offer a contrarian point of view for readers, from a strategic perspective, with a long term view for the future. It is separate from the Carey Group and Endure Wealth, but if you want to access our professional services, please go to the 'Get in Touch' section below.

 

Get in Touch:  If you have any questions on the above article, or would like to book an obligation free appointment to discuss your business, financial or investment goals in more detail, please contact the Carey Group by phoning (07) 4760 5900 to make an appointment or email me at

 colin.lea@careygroup.com.au and I'll touch base with you to arrange a time at your convenience.

 

Disclaimer:  The advisers of Carey Financial Pty Ltd can provide financial services as Authorised Representatives of Endure Wealth Pty Ltd, ABN 87 632 221 713, an Australian Financial Services Licence holder (No. 516435). Endure Wealth Pty Ltd is owned by Carey Group Pty Ltd and ML Partners Financial Services Pty Ltd. Carey Financial Pty Ltd is an authorised representative of Endure Wealth Pty Ltd and provides financial planning services for superannuation, managed investments, personal risk insurance, shares and self managed superannuation fund investment advice.

 

Your advisers may offer you services through Carey Financial Pty Ltd and Carey Accountants Pty Ltd which are each separate businesses. Although the same Adviser may offer you services under the above businesses, each business is solely and separately responsible for the advice they each provide. In particular, Endure Wealth is only responsible for the financial planning services for superannuation, managed investments, personal risk insurance, shares, and self managed superannuation fund investment advice provided by Carey Financial Pty Ltd.

 

This information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, you should consider whether the information is appropriate in light of your particular objectives, financial situation and needs.

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