Westpac to grow planning numbers

Westpac Financial Planning has embarked on a recruitment campaign involving advertising, education, an internal awareness program, and longer-term career path preparation to boost the number of financial advisers working for the organisation.

The recruitment drive comes in response to an anticipated increase in demand for professional advice from Westpac as a result of the superannuation changes handed down in the 2006 Federal Budget.

“We’ve always had strong demand in the Westpac customer base for financial planning services, but now I think there’s heightened awareness in the broader community of these services. We just want to be in a position to be able to meet both existing and future demand,” Westpac Financial Planning general manager, advice, Sally Herman said.

While the bank has initiated the move to grow its financial advisory business, it has not set a target as to the definitive number of planners it wants operating under the Westpac umbrella.

“We would just like to say we’re open for business and we’re looking to grow the planner workforce. It’s pretty consistent with the overall Westpac vision to help Australians achieve their financial aspirations,” Herman said.

The external recruitment initiative aims to attract planners to the Westpac group on the strength of the organisation’s ability to allow advisers to work with a large customer base, to provide strong technical and administrative support, and to give advisers the opportunity to contribute to the bank’s strong achievement culture.

As far as potential recruits are concerned Westpac is looking for them to possess several specific characteristics.

“Of equal importance to us are technical skills and also the fit with our values, which are teamwork, integrity, and achievement. So people have to be prepared to be team players and they have to have an orientation for achievement, which means doing what you say you’ll do both for the customers and the company,” Herman said.

The campaign comes a month after the bank’s financial planning arm launched a campaign to promote the benefit of having a financial adviser in the post-Budget superannuation landscape.