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SFG Australia expands its service offering

SFG Australia (ASX: SFW) looks to be hoping to capture more of the financial planning market by partnering with the many smaller boutiques in the market place. While there has been much consolidation at the larger end of the market, with IOOF (ASX: IFL) a serial acquirer, the financial planning industry is still fragmented with many small scale operators.

According to a report on the Financial Standard website, SFG has launched a business-to business back-office support function to assist boutique Australian Financial Services License (AFSL) holders. The support ranges from “licensee and advice solutions, research services, technical support, access to portfolio and platform solutions and AFSL management and growth.”

The offering by SFG would appear to possibly fill a gap in the market previously provided by Count Financial. Count was previously considered an independent operator, however in 2011 the company was taken over by Commonwealth Bank (ASX: CBA).

With more and more Australians appearing to favour a self-managed super fund structure, the demand for financial planners looks set to continue. However with costs and regulations continuing to climb, consolidation of the industry will no doubt continue as well.

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Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article.

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