MLC changes paraplanning model
Greg Miller
MLC has announced it plans to adopt a referral model for its advisers’ paraplanning needs, moving away from the centralised service it currently offers through ThreeSixty.
The new model will be introduced in October and will offer paraplanning services through a panel of referral partners.
The advantages of this, according to MLC Advice Solutions general manager Greg Miller, are that practices would have access to a more localised service with greater flexibility and customisation.
“Where agreed, the referral partner could even make site visits to practices and work with advisers to tailor their approach,” he said.
“We will work closely with advisers to identify their needs and match them with the most appropriate consultant accordingly.”
MLC’s centralised paraplanning unit will be disbanded following the introduction of the referral model.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
