Vow Financial to offer insurance services - Money Management (12 July 2011)

Tuesday, 12 July 2011

Mortgage aggregator Vow Financial, which has recently entered the financial planning space, will also start offering insurance services to its clients through its newly formed partnership with Allianz Australia.

The agreement between Vow and Allianz was completed in May, days after the mortgage broker set up financial planning practice Vow Wealth Management.

Vow chief executive officer Tim Brown (pictured) said the partnership with the insurance provider came as the company decided to diversify its source of income.

"In a difficult economic climate for brokers, it's important that we find alternative sources of income for them - and that's exactly what this partnership with Allianz achieves," Brown said.

Allianz would offer all housing-related insurance products to the clients of Vow's brokers, while the company flags plans to enter into joint ventures with more 'like-minded' financial planning firms.