Wilson HTM set to increase financial planner footprint

Wilson HTM is set to double its financial planning arm.

Recently appointed head of financial planning Chris Saunders would not give definite figures, but he said Wilson HTM hoped to build from 15 financial planning practitioners to 35 in the next two years.

Saunders said the current environment presented an opportunity to attract planners, adding that the group was set to re-launch its 12-month academy in September. He said this would also include a senior adviser program aimed at bringing skills up-to-date to enable Wilson HTM to take advantage of opportunities presented by changes in the market and industry over the last couple of years.

“It’s just a revitalisation of [Wilson HTM’s] existing businesses,” Saunders added.

He said Wilson HTM would leverage on its stock broking expertise to provide a compelling value proposition to financial advisers, and was well placed to take advantage of the current bias towards direct equities due to the pressure on fees.

Saunders added that the group was also well placed to take advantage of the rapid growth in the self-managed super fund (SMSF) sector.

“It’s akin to what we’re good at, and with 2000 SMSFs, it’s clearly our market,” he said.

“Again, we’re just leveraging off our expertise on the broking side, dovetailing that into other service offerings.”

In response to the Bowen reforms, Saunders said the company was nimble enough to adapt to change. He added that the majority of Wilson HTM’s planners had moved to fee-for-service.

He said the reforms were without a doubt having an impact on financial planners — both personally, and on their businesses. But he said the industry was reacting well — especially in terms of lifting education standards.