JB Were launches into planning
As part of a drive to turn itself into a "multi-financial service" provider, JB Were, Australia's largest retail stockbroking house, will launch a new financial planning service on October 1.
As part of a drive to turn itself into a "multi-financial service" provider, JB Were, Australia's largest retail stockbroking house, will launch a new financial planning service on October 1.
Called Were Strategic Planning, it will be managed nationally by Chris Tant, for-merly a director of Davey Financial Management.
Were already has a nationwide network of financial planners, but Tant says the new service will offer much more specialised advice than traditional financial planning.
"Our clients have been asking for a more sophisticated advisory service to meet the challenges of an increasingly complex environment where they have to deal with a range of issues like superannuation, tax, the impact of the Ralph report, capital gains tax and estate planning," he says.
Were Strategic Planning will target high income earning clients looking to build wealth. And, according to Tant, it will provide them with a unique service where they deal with a technically skilled strategic planning consultant, who is supported by an underlying team of investment specialists, financial planners and service support staff.
Tant says clients will be charged a time-cost fee for advice, based on an estimate provided in advance. They will also have access to an array of products and serv-ices offered by Were, depending on the level of involvement they require in the decision making process.
Clients can, for example, make use of the firm’s Investment Management Service, which includes Internet access, capital gains tax reporting and free brokerage. Al-ternatively, they can hand over the decision making process to Were’s ‘Discretion-ary Portfolio Service’
Tant says the changes at Were signal the firm’s desire to reposition itself as a fi-nancial services provider. As part of this change, the word "stockbroking" will dis-appear from the Were name.
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
