MLC has launched a new advice business called TenFifty Financial Group by combining businesses earlier aligned with Garvan, Apogee, and Meritum brands.
Advisers attached to TenFifty will serve as representatives of GWM Adviser Services.
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General manager Brendan Johnson, an 18-year veteran of MLC, will be in charge of TenFifty.
MLC acting group executive for advice Geoff Rogers said: “When we announced our strategic intent in 2019, we established a simpler operating model that would allow us to focus more on delivering for clients.
“This model included a new licensee business that could service a broad client base with different needs while offering unparalleled support for advisers.
The name TenFifty is said to have been derived from MLC’s translation in Roman numerals.
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By GlobalDataThe business will run on four business pillars including community, compliance, consulting as well as capability.
Commenting on the new business, Rogers noted: “These challenging times have shown the true value of relationships and the power of community, and the advice industry is enduring extraordinary change.
“By establishing opportunities to connect with like-minded peers to learn, share and collaborate through the TenFifty network we believe advisers will be even better placed to offer quality advice and set themselves up for success.”
