Yellow Brick Road launches "Wealth Agents" advice model
Yellow Brick Road (YBR) has launched what it describes as a "flexible financial advisory model" called Wealth Agents, targeting those who may have become disenfranchised with the major banks.
Wealth Agents will work in conjunction with YBR's existing national branch network, but won't work from a branch and will look to service clients at the time and place of their preference - such as at their home and on evenings and weekends, according to YBR.
"Yellow Brick Road Wealth Agents will provide a non-discriminatory alternative to people [with] agnostic, independent financial advice to Australian consumers," the YBR statement read.
The service launched today following a pilot program that has been running for several months, and agents will need to have, or be about to obtain, a Certificate IV and/or RG146, YBR stated.
YBR said the service would allow it to "enhance its service capacity to reach more Australians in suburbs and regional areas across the country".
"This isn't just about mortgages. That is only one part of it," said YBR executive chairman Mark Bouris.
"It's about having a wealth agent who will come to you at your home on a Saturday afternoon or after work and give you the right advice at a price you can afford. The recent influx of enquires we've received is proof that people want an alternative to what's out there."
The pilot program attracted "a wealth of industry professionals who were eager to break away from the sterility of the banking industry", YBR stated.
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