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YBR consolidates to move to franchise structure

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Australian Broker | 04 Aug 2016, 06:27 AM Agree 0
Yellow Brick Road has ended its aggressive growth phase and announced it will now consolidate to become a franchise wealth management busines with branded branches only
  • The B-side | 05 Aug 2016, 02:04 AM Agree 0
    Smoke and mirrors. Mass resignation of wealth management personnel from the top to bottom. Recruiting branch principals and staff with no or minimal experience, pushing them through RG146, setting minimum "new business wealth revenue" KPIs or otherwise pay substantial additional fees to YBR, does not make for "trusted advisers" or "quality advice". Salaried YBR wealth management staff are getting out before it completely implodes. Existing branches were backed into a corner to sign the new franchise agreement or else loose their client base, trail & non-compete clause invoked. Any branch not signing the franchise agreement by 31st July 2016 are now being charged an addition $1,500 per month levy until signed. An unsustainable business model, however, most branch owners have gone too far down the yellow brick road to get out. YBR have flipped Elton's iconic track to it's B-side...
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