2009 Queensland Winner of the MYOB Small Business Award
Aspire Retire Financial Services
Consumer complaints about commission-based financial planning
advice are on the rise. So, when establishing their financial services
company, Aspire Retire Financial Services, owners Stephen Degiovanni
and Olivia Maragna went against the industry trend and pioneered
financial planning on a true fee for service basis. When they set up
operations in 2003, the only option most people had was to receive
commission-based advice, which was often biased toward higher
commission products. Their no-commission business model has
delivered consistent growth, irrespective of the state of the economy.
While primarily focused on providing holistic financial advice, Aspire
Retire also offers services such as self-managed superannuation fund
advice and administration. Since being granted their own Australian
Financial Services Licence, the business has doubled turnover and
experienced 100 percent retention of revenue. This growth has come
purely from their client service approach with 95 percent of their
business referred by existing clients.