06/11/2007 - 22:00

Shared knowledge the key for Joyner

06/11/2007 - 22:00

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Like many Western Australian financial services firms, Subiaco-based Keysbrook Financial Services has felt the flow-on effects of the state’s booming economy.

Like many Western Australian financial services firms, Subiaco-based Keysbrook Financial Services has felt the flow-on effects of the state’s booming economy.

Managing director, and 2004 WA Business News 40under40 winner, Simon Joyner believes the business has thrived on a combination of good economic conditions, and the company getting better at what it does.

Good stock market returns and recent changes to superannuation have helped to boost the company’s performance, doubling its revenue since 2004 to $3 million a year.

“We’re lucky to be in a booming business at a good time,” Mr Joyner said.

In June this year, Keysbrook joined other high-end financial services firms around the country to become part of the Best Advice project.

Chaired by Gannon Growden Schonell and Associates managing director Sam Gannon, Best Advice is a buying group made up of 12 privately owned businesses located in Sydney, Melbourne, Brisbane, Hobart, and Perth.

Currently with more than $10 billion of funds under advice, Best Advice provides companies with the economies of scale to achieve competitive pricing from fund managers and insurance providers.

The project provides members with a collaboratively developed best practice model for use in their individual firms, drawing on the pooled knowledge and experience of the group.

Mr Joyner said the shared knowledge and resources model of Best Advice allowed Keysbrook to reap the benefits of scale while still holding onto its culture.

“The benefits of scale can be pretty powerful for any business, but [with Best Advice] we get scale while maintaining our small business attitude,” Mr Joyner told WA Business News.

Gannon Growden Schonell and Associates and Keysbrook are the only two WA companies in the group.

It is envisaged that the companies will eventually merge, with the entity to list on the Australian Securities Exchange.

Starting his financial services career in 1988, Mr Joyner now leads a staff of 18 at Keysbrook, including eight advisers.

Together with David Buttfield, owner of AMP’s largest general and life insurance agencies in Australia, David Buttfield & Associates, Mr Joyner established Keysbrook in the early 1990s.

Following Mr Buttfield’s retirement, Mr Joyner bought out the remaining partners and developed Keysbrook into an independent financial planning and chartered accountancy business.

•Nominations for the 2008 WA Business News 40under40 awards are open. Visit www.40under40.com.au to nominate.

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