NRMA commits to planning
One of Australia’s best loved brands is about to play its hand in a move to make a dent on the rapidly growing financial services market.
One of Australia’s best loved brands is about to play its hand in a move to make a dent on the rapidly growing financial services market.
The NRMA plans to more than double adviser numbers over the next two years to take advantage of its huge database, branch network and reputation with consumers.
The group hopes to boost branch-based adviser numbers from 40 at present to 100.
The group has also begun a major advertising campaign to highlight the good per-formance numbers coming from their managed funds.
Sales development manager at NRMA Financial Planning Mark Danckert says the major push into financial services is a natural extension of the group’s core business.
“Financial services have been identified as a an area that we want to, and can, de-velop. It is something that we see as fitting in with what we do and that is helping people,” he says.
He says the expansion will be focused on the eastern seaboard where the NRMA is most entrenched.
“We will first get that house in order and then we will look at the other opportunities available to us,” he says.
NRMA advisers will work off an authorised list of 14 different fund managers, in-cluding the NRMA. Among the financial products already offered by the NRMA are a cash management account, a direct equities service, home loans and life, and other, insurance.
Over the past year, the NRMA started growing its financial planning operation more rapidly, adding 15 more advisers to boost its numbers to 40. It also employs 10 para-planners.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
