PIS looks to add insurance and tax services
ProfessionalInvestment Services(PIS) is moving against broad industry trends to add risk insurance and taxation services within its financial planning businesses.
While most risk and accounting-based practices are focusing on introducing and developing financial planning services for their clients, PIS is moving the opposite way.
PIS chief executive Robbie Bennetts says that by introducing accounting and tax services within pure financial planning businesses the group will move further towards an holistic model of client service.
The strategy has involved a number of “back to business” sessions for PIS planners, offering them the chance to place taxation specialists into their businesses.
PIS general manager Grahame Evans says that this type of growth is reducing the risk from investment business due to the volatility of different sectors of the market.
Evans also says the strategy has helped PIS achieve profits well in excess of budget expectations, especially the Registered Life Brokerage business, for the first six months of the 2002-03 financial year.
Bennetts expects thatthe continuing integration of insurance and financial planning advice will provide good growth in the insurance division through 2003.
During 2002, PIS doubled the business of its Registered Life Brokerage businesses, according to Bennetts.
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