Plan B to look at product, not just advice
Targeting growth in financial advice will not be the only area of focus for Plan B, according to the dealer group's newly appointed chief executive officer, Andrew Black.
Black added the dealer group saw the upcoming set of regulatory changes as an opportunity, rather than a threat, which he believes would help Plan B expand its market presence.
"Plan B has got multiple business lines in there, and diversification will be a key component in the upcoming changes - we'll have to look at the product as well, rather than being just service oriented," he said.
Black - whose appointment was recently announced by Plan B chairman Bryan Taylor - will mainly focus on growing the Western Australian dealer group. Black said he already saw a number of opportunities after the release of the Future of Financial Advice draft bill.
"Plan B has always been fiduciary certified and fee-for-service, for example, and for them it's business as usual," he added. "My job is capitalising on the opportunities that are in there and really look on being able to get some genuine growth out of the organisation."
Black, who will officially start with Plan B on 19 September, was most recently head of Skandia Australia when it was part of the global Old Mutual Group.
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