MLC opens up to independents

MLC has extended its range of adviser support offerings to external planners for the first time following the group rolling out its previously internally offered services to independently owned and licensed advice businesses.

Termed, MLC Alliances, the program allows non-aligned planners to access licensee, business consulting and implementation services, in addition to MLC’s recently launched platform, AdviserCentral.

“Principals of advisory firms who run their own licenses have told us it is difficult to deliver a quality, seamless advice experience to their clients when they are using tools and support services from several different providers,” MLC Advice Solutions chief executive Matt Lawler says.

According to Lawler most of the principals contacted stated that they were seeking integrated support services to assist them in offering good advice, along with aiding to implement efficient business processes and tools to help them recruit and motivate employees.

“We have a range of tools and services that address these needs and improve the client experience and we are now making these resources available to external advice businesses,” Lawler says.

According to the National Australia Bank-owned wealth management group the program is targeted at principals of advice businesses that have elected to operate their own licence, or owners who are looking to apply for their own license.

Lawler says MLC Alliances includes a strategic planning component that takes a three year view of an adviser’s business and has a business planning component.

It also includes technical research, investment research, compliance, education, professional development and an integrated advice platform, he says.