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Slow but steady wins the race: Licensing update

Late last year we informed you that our Australian Financial Services Licensee, Genesys Wealth Advisers, had announced it would be rationalised by its owner, AMP. This was to be finalised by the end of April, 2015.

In the time since we made this announcement we have explored many avenues in our quest for a solution that satisfies both our client’s expectations and our company values. We are confident having eliminated a number of options that a path forward has now become clearer. We are currently performing essential due diligence to reinforce that this path will meet our stated objectives. Once this work has been completed we will be in a position to formally announce our future arrangements.

Given that our relationship with Genesys spans more than 20 years, it was inevitable that there would be details that would take time to sort through. Therefore, this process has taken longer than anticipated and has required an extension to the original April date.

It has been a long and at times arduous process and we thank all our clients for their ongoing patience and support. However, we firmly believe that ‘slow but steady wins the race’.

In the interim, it remains business as usual at FinSec. We would welcome the opportunity to answer any questions you may have about our licensing arrangements, please feel free to contact our Managing Partner, Andrew Creaser on 8357 7840  or alternatively click here to send an email.

Published On: June 17th, 2015Categories: FinSec Post, The FinSec View