Successful referral partnership scheme could boost the PIS bottom line by 30 per cent in a year.
Professional Investment Services aims to (PIS) boost its bottom line by almost a third by pumping up its accountants referral base.
Australia's largest financial advisory group plans to sign up 500 accountancy practices by the end of the year. It has partnered with 85 since January.
It already has more than 1084 accounting principals as referral sources.
"It costs nothing to join us and nothing to leave us, so what we do for anyone who signs up has to be very impressive in order for the relationship to work," PIS chief executive Robbie Bennetts said.
"This creates strong professional loyalties with both accountants and our advisers and demonstrates our confidence in our model."
Bennetts said income would be boosted by 30 per cent over 12 months if the scheme was successful.
It was an opportunity for accountants to partner with PIS before it listed on the Australian Securities Exchange, he added.
Unlike other financial advisory companies, PIS does not take an equity stake in its accounting referral partners. PIS practices are therefore not tied to the company and its products.
"PIS operates at above best practice standards with the company objective to build and grow our network of advisers business by referral," Bennetts said.
"Our accountant partners benefit from associating with advisers that mirror their professional and ethical standards."
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