Deakin pushes for growth on back of wrap launch

Deakin Financial Servicesis set to push ahead with its dramatic growth plans after the release of its much awaited in-house wrap service, Deakin Smartplan, later this week.

The wrap is based on a platform built by technology providerAvanteosand supported by investment research provided byVan Eyk Research.

The wrap will offer three distinct services - Deakin Smartplan Investments, Superannuation and Allocated Pensions.

Deakin managing director Murray Hills says the wrap was developed in response to demand from the group’s advisers, and will play a key role in the group’s plans to grow its business nationally and attract additional advisers.

Earlier this year, Deakin appointed its 150th adviser, but said its ultimate objective was to have 200 planners by the end of this calendar year.

The group had originally aimed to have 200 planners on board by the end of June, but revised the target earlier this year.

Deakin executive chairman Rob Hunwick said at the time it was unlikely that the original target would be fulfilled, stating that “it needs to be noted that we are now operating in a fiercely competitive environment”.

Deakin scraped into the black to record a small $31,000 profit for the 2001-02 financial year, which was a dramatic turnaround on the 2000-01 financial year, when a loss $11.6 million was recorded.

The new wrap, initially mooted by Deakin last October, will be launched with a series of seminars for Deakin advisers commencing in Melbourne this Friday, followed by presentations to Deakin’s Brisbane and Perth based adviser networks on Monday and Friday next week.