Vow drives wealth management offering forward
Mortgage aggregator Vow Financial has continued the growth of its wealth management offering with a new joint venture in Melbourne.
With two financial planning practices in Sydney and another in Perth, Vow chief executive Tim Brown said the firm was also in negotiations to add a branch in Brisbane.
He said wealth management had been a significant revenue-maker for the business over the past 12 months, with most clients looking for income and life protection solutions.
"We're also finding commercial finance is in growing demand because banks are squeezing their clients on rates at the moment and pushing up the margin on their commercial products," he said.
Vow has set up a specialist committee of commercial mortgage brokers to help its residential brokers close business deals in situations where they wouldn't normally have that level of experience and knowledge, Brown said.
AUTHOR
Staff Writer
Recommended for you
Research house Genium Investment Partners has appointed a head of investment solutions from Mason Stevens.
ASIC has made two appointments to its senior executive leadership team covering regulation and enforcement following an international search.
Perpetual has reported positive quarterly net inflows for the first time in 12 months, the first under the remit of new chief executive Bernard Reilly.
The global financial services firm has taken on a second AFSL as it looks to capitalise on the high-net-worth market in Australia.
