Oct 26, 2011.

The recent move of mortgage aggregator Vow Financial into the wealth management space has been strengthened by the opening of its second Sydney office in Parramatta.

Vow Wealth Western Sydney will offer the same exclusive support and products to a select number of Vow Financial brokers to help them expand their business into wealth management.

The Western Sydney office is part of a push by Vow to create similar partnerships around Australia over the next few months.

Vow Wealth national sales manager Justin Dale says the company's latest development shows that an aggregator recognises the need for diversification to help brokers grow their business from beyond offering just mortgages.

"Vow Wealth can now offer a full financial planning structure to brokers that includes mortgages, insurance and wealth management," he says.

"We have initially chosen a select number of brokers who have shown interest in moving into the wealth management area, and, at the same time, we have also taken a lot of inquiries from other brokers outside out network who are interested in what Vow Wealth is offering.

"Stepping into the wealth management business allows our brokers to offer more services and products. Because the market is changing so rapidly, diversification is the key to survival. We want to be there with the brokers on this journey."

Mr Dale says Vow Wealth can facilitate the education opportunities required for brokers to go down the path to a full financial adviser business.

The new Parramatta office is the second in a joint venture partnership model in Sydney, with an existing office at Crows Nest in North Sydney.

"We are looking at similar partnerships to be rolled out around Australia in the next few months," Mr Dale says.

"In early November we will open a Perth office, followed in mid-November for an office to service the Hunter region and Central Coast."

Vow Wealth offices were also being planned for Victoria and Queensland.

To kick off the latest office, Vow Western Sydney will run a consumer SMSF event in Parramatta on November 8, titled 'Buying Property through your Super Fund', for brokers and their clients.

"Property is one of the niche focuses of Vow Wealth and we will present an all encompassing look at the sector for the benefit of brokers' self-managed super fund clients," Mr Dale says.

The move was welcomed by Vow Financial CEO Tim Brown, who adds: "Offering clients multiple products and services will further cement the relationship between brokers and clients and help protect clients from brokers' competitors."

For all media queries please contact:

Matt Mitchener
Marketing Manager
Vow Financial
0431 749 685