Mercer targets self-employed advisers

David Anderson

Mercer Wealth Solutions has launched an additional advice channel made up of ‘self-employed’ or external financial advisers, who will use Mercer branding and support services.

The advisory group has initiated the program as part of its strategy to broaden access to its financial advice services across Australia.

These ‘self-employed’ Mercer financial advisers will be independent business owners, operating under Mercer Investment Nominees Limited as the licensee.

Head of Mercer Wealth Solutions David Anderson said with 24 per cent of all Australian financial advisers working under a self-employed/independent owner model, this additional advice channel taps into a large pool of skilled planners.

“The rapidly ageing population, regulatory reforms that enable transition to retirement strategies and the increasing empowerment of individuals to take charge of their retirement has driven up demand on Mercer for personal, professional advice to record levels. Our blue chip corporate client portfolio is also looking to differentiate their employment value proposition as the war for talent escalates to new highs,” he said.

Mercer’s financial advice leader Scott Walters said the additional channel presented prospective financial advisers with an opportunity to join a respected brand with a rapidly expanding client base.

“We’re seeking high calibre professionals to work with us. Our external financial advisers must uphold Mercer’s strict global codes of professional conduct and meet stringent professional development requirements that exceed industry guidelines. In return, they can expect access to the breadth and depth of Mercer’s financial adviser support team, as well as active referrals to members,” he said.

“With the continuing rapid growth of Mercer’s superannuation client portfolio we expect our external financial advisers will be in great demand responding to referrals, especially from our helpline,” Walters said.

Most of the revenue generated by the external adviser will be retained in order to cover their own expenses, time and expertise in providing advice, with a small percentage of the revenue paid to Mercer.