Retail giant to roll out finance products
After a delay of over a year, discount retail giant The Warehouse, is about to announce the launch of its branded financial services products.
After a delay of over a year, discount retail giant The Warehouse, is about to announce the launch of its branded financial services products.
Chief operating officer for The Warehouse, Greg Muir, says the company should be in a position to give details of the financial products launch before Christmas this year.
The Warehouse was set to offer a range of financial products through its nationwide chain of stores earlier this year before the collapse of its deal with a prospective partner (rumoured at the time to be WestpacTrust).
“We’re now dealing with a different provider than last year,” Muir says.
“We went a long distance with the previous one but ultimately it was not the right choice.”
Muir says The Warehouse has been talking to a new prospective partner for two months and has progressed a lot further than in its earlier negotiations.
However, he says under the new deal The Warehouse will be able to offer the same range of products as previously planned.
The Warehouse has also begun an expansion into Australia with the purchase of two discount retailers giving it access to more than 100 stores.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
