Snowball continues push into workplace planning
Listed financial planning companySnowball Grouphas formed an alliance with employee benefits provider API Leisure & Lifestyle to offer broad ranging human resources solutions for businesses.
The alliance will see Snowball provide financial planning services to employees of client companies, while API Leisure & Lifestyle will provide tailored human resource programs to improve staff morale and decrease turnover.
The two groups will work together in both marketing and providing their services to businesses.
“By enabling employees to better manage their own financial and retirement destinies as well as providing customised human resources programs, we believe employees and employers are better off," Snowball managing director Tony McDonald says.
API Leisure & Lifestyle general manager Malcolm Harley says financial services are an increasingly important consideration for human resources management.
The group specialises in providing access to entertainment, shopping, travel, motor vehicle and professional service to employees through their workplaces.
“We felt it vital that we include financial planning as an integral part of our product mix,” Harley says.
The alliance will enable employees to access face-to-face financial planning services and regular educational seminars through Snowball's specialist financial planning business, CIS Financial Services.
Employees will also have access to Snowball's website incorporating educational material, online financial planning tools and financial products.
According to Harley, many employers are beginning to see a need to provide financial education and advice to their employees.
"Progressive employers are realising human resources management will be governed increasingly by the concern demonstrated by employers for the future financial security of their workforces through independent financial planning advice,” he says.
Snowball already supplies on-site employee financial planning services to a range of groups, including P&O Australia, the Charles Parsons fabrics and textiles group, Vodafone, Fuji-Xerox and the Australian Human Resources Institute.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
