Vow continues wealth management push - Broker News (26 October 2011)

Wednesday, 26 October 2011

Vow Financial has opened its second wealth management office in Sydney as the aggregator continues its diversification drive.

The company has announced the opening of its Vow Wealth Western Sydney office in Parramatta, which it says will aid Vow brokers in expanding into wealth management products. Vow Wealth national sales manager Justin Dale said the company is continuing its drive toward product diversification.

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

Dale said a select number of Vow brokers would initially move into the wealth management area, and commented that the company has also received interest from brokers outside its network.

"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," he said.

Dale said the aggregator would look to open a wealth management office in Perth in November, followed by an office in the NSW Central Coast and Hunter region in mid-November. He said additional Vow Wealth offices were already being planned for Victoria and Queensland.

The opening of Vow Wealth's Parramatta office will be kicked off with a consumer SMSF event educating consumers on buying property through super funds.

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