Vow Financial on mission to attract mortgage brokers
Following Vow Financial's entry into a joint venture with a financial planning firm in May last year, Vow is clearly focussed on attracting more mortgage brokers, according to chief executive Tim Brown.
While some brokers have been using Vow to get a hold in the financial planning space, "we'd probably have about 10 per cent of our brokers using the service", he said.
"It's an evolution for mortgage brokers - we've got some that have really taken to it and are referring regularly now, so our volume and our pipeline are building quite nicely," he said.
With much of the focus on the Future of Financial Advice reforms, Brown said brokers were beginning to recognise the level of compliance they needed was minimal compared to what was required in financial planning, and this was encouraging them to access new income streams.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
