Pinnacle Practice, the Australian investment consulting firm, has launched a new service that matches independent licensees with the most compatible advisors for their businesses.

My Dealer Group, the new offering, provides compatibility assessments for free to financial advisors, while licensees pay a fee to be a member of the group's selection pool. 

Advisors are asked to complete a fact-find survey which requires them to rank what they are looking for in a licensee on areas such as culture, technology, advice, systems and processes, lead generation and commercial terms, the company said in its website. The fact-find also gathers information about the advisors' nature of business, the markets they are targetting and how they implement their advisory processes.

"Success depends on compatibility and that's been the hard part of both advisors and licensees. While we believe licensees all want the same thing, they are not actually in competition with each other because they each have something different to offer," said Anne Fuchs, director of Pinnacle Practice.