New blood good for industry - The Adviser (20 May 2011)

Friday, 20 May 2011

Fresh blood could help the third party distribution channel to increase their market share, according to Vow Financial CEO Tim Brown.

Aggregators are currently looking at ways to bring new recruits into the market and this could help broker market share to eclipse 50 per cent from its current 41 per cent, Mr Brown told The Adviser.

"Certainly from an aggregator's perspective we need to be much more involved in the growth of the business and leading that through recruitment, training and development," he said.

Vow has commissioned a recruitment group to help identify future candidates in what it calls its "succession planning".

"We think the new brokers are going to be more professional and more adaptable to cross sell," Mr Brown said.