Adviser log-in

TFS Advisers log in here.
 

User Name  

Password  

Dominion Clients

Dominion clients click here to log in to your account.

Media Listings

View the latest TFS media releases and press clippings below or click on our Archives for more.
25/06/2008 Money Management
TFSA hungry for growth
Despite failing to snare independent dealer group Mawson Securities Group, Total Financial Solutions Australia (TFSA) has confirmed it remains on the acquisition trail and is in the process of identifying and approaching possible opportunities as part of its strategy for aggressive expansion.
Expanded  
TFSA made an offer for Mawson earlier this year but lost out to ING dealer group Millennium3.
 
However, TFSA chair Kevin Owen said this setback would not deter the group from pursuing other opportunities.
 
“That won’t stop TFSA as it has successfully completed acquisitions on a number of occasions now and understands through experience what it takes, how it works and the benefits of what it brings,” he said.
 
“TFSA certainly has a couple of fairly strong projects in the melting pot now.
 
“That being said, TFSA has the money and if there is a group out there who reads this story and likes us then we would certainly like to talk to them.”
 
With 109 practices throughout Australia, Owen describes the group’s growth as a journey of dealer group consolidation.
 
“We have consolidated a number of duplicated areas in the back-office and merged a couple of related entities and companies into TFSA in preparation for the next stage of the strategic plans,” he said.
 
The company’s board is focused on the group achieving an earnings before interest and tax figure of $3 million within the next three years.
 
“Our financial model has us on track to do $1.7 million over the next three years, so TFSA needs to change to achieve the higher objective,” Owen said.
 
“TFSA currently works off a flat, fee-based system which pays out 100 per cent of everything it receives from the relationships with institutions and life insurance companies.”
 
Owen believes if TFSA’s authorised representatives, who are also shareholders in the company, vote in favour to change this fee model to a combination of a flat fee system with the option to swap gross revenue for equity, the target will be achieved.
 
The dealer group has recently appointed a new head, former Australia Health Export Industry Council chief executive Phillip Aris, following the resignation of Michael Scott, as managing director.
 
Scott will, however, continue to retain his shareholding in the group via his Wollongong-based financial planning business.

By Sara Rich
 

Join TFS

In today’s challenging financial services environment, the Dealer Group you associate with is critical to your success.
Find out more
Download Brochure

Speak With Us on
02 8297 1600
or click here & we can call you back

Privacy Statement  |  Terms & Conditions  |  Financial Services Guide  |  Site Map  |  Copyright 2010 TFS Operations Pty Limited