Westpac launches virtual financial planning service
Westpac has launched its first virtual financial planning service, which would allow customers in remote locations to gain access to Sydney-based financial planners via a video-link.
Customers in remote areas will have access to a dedicated office in their local branch, which would be equipped with dual monitors and a multi-function device, enabling the planner to show documents on one screen while having a face-to-face conversation on the other.
The system will also allow the planner to share documents, spreadsheets and projections as well as to exchange signed documents and contracts on the spot.
The new service was launched by BT Financial Group's general manager advice, Mark Spiers and group executive retail and business banking in Karratha, Western Australia Rob Coombe.
Speaking in Karratha, Coombe said the new virtual financial planner service means that Westpac "now has the capability to provide regional customers access to exactly the same service provided to those living in more urban areas."
Westpac's project team was working on the development of the new service for over 12 months, during which period it was successfully piloted.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.