RetireInvest back in the news
RetireInvest has rounded off this week’s flurry of activity surrounding its business with the announcement of a second exclusive advice deal, this time with the Commercial Law Association of Australia (CLA).
The arrangement to provide the CLA’s 600 members with education and financial planning services follows a similar deal announced on Monday with the 21,000 member Victorian Farmers Federation (VFF).
“The program has been implemented to provide members of the CLA education programs, access to proprietary web-based education services and access to our professional network of advisers,” RetireInvest general manager George Haramis said.
The ING-owned group has experienced an outbreak of media coverage this week, which began with news eight Victoria-based RetireInvest franchises had split from the advice firm to launch a new independent dealer group with 20 authorised representatives and more than $1 billion in funds under advice.
Meanwhile, on Wednesday, the firm was given a clean bill of health by KPMG, resulting in the removal of a 20-month enforceable undertaking by the Australian Securities and Investments Commission (ASIC).
Both the CLA and VFF deals stem from RetireInvest's Strategic Alliance Program, which was launched earlier this year as part of a broader repositioning and restructure of the advice firm.
This also included the introduction of alliance managers, which were given the role of developing strategic partnerships with organisations and associations.
The latest deal with the CLA, which was initially formed to provide opportunities for lawyers and those involved in finance and commerce to network and lobby government on issues of mutual concern, is one of a collection of agreements RetireInvest advisers will be able to tap into.
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