New office for planners

FINANCIAL planning group RetireInvest has opened a new city office and plans to follow up with 10 new franchisees around the State.

The new office will be a “satellite” of RetireInvest’s long-running Subiaco office, headed by managing proprietor Scott Lee.

It is designed to service what Mr Lee says is strong demand from busy working profession-als.

“A lot of our new clients are professional people in their 30s to 50s and they often have substantial investment know-ledge,” Mr Lee said.

“Many have already tried to manage their own investments and have vastly underestimated the time commitment, technical resources and legislative expertise required.

“They now appreciate the time and cost savings of using a professional advisor”.

The new office brings to seven the total number of RetireInvest offices in Perth, from just one in 1997, and WA manager Kevin Canning said the group had plans for up to 10 more franchises in the State. Mr Canning is already planning the next opening, in Mandurah in April, and other locations targeted by the group include Mt Lawley, Midland, Geraldton and Kalgoorlie.

A feature of the RetireInvest structure is that franchisees do not make up-front payments.

Instead they form a revenue sharing agreement with the franchisor, providing an ongoing incentive for business success.

Across Australia, the group has about 90 franchises, some of which have more than one office.