Sydney-based financial planning group Noall & Co has launched an outsourced employee benefits scheme focused on lifting financial literacy with plans to have 5000 members using the scheme in 12 months.
The scheme – Your Wealth Hub (YWH) – offers online and in-office education and information with YWH general manager Gavin Glozier stating that while the scheme was built using the resources of Noall & Co it was not designed to funnel clients to the advice business.
Glozier said YWH was jointly owned by himself and Noall & Co managing director Marc Bineham and had 1600 members currently onboard through relationships with corporate superannuation advisers. Noall & Co is licensed through Guardian Advice.
According to Glozier employers who chose to offer the scheme will be charged $1 per week per employee member and said the provision of the service met employee demands for information about securing their financial future in a way that was accessible and timely.
Glozier said the scheme was not designed as a robo-advice service and licensed advisers would present in-house information sessions which would be offered three times a year to employers and employees.
He said any information offered would be general advice and YWH had partnered with accountants and mortgage brokers and employee members could be referred through to advice professionals if they wanted further assistance.
