Adviser interest in Westpac Financial Planning’s adviser pathway program has intensified with the signing of a further 18 planner partnerships.
“I’ve probably got about 17 or 18 partnerships that are keen to go live,” BT Financial Group head of partnerships advice Sarah Forman told InvestorDaily.
The next batch of partnerships will become operational on February 1 and April 1.
The program was launched last October with 10 partnerships.
Current market volatility, which extends to the job market, might be sparking interest in the program, Forman said.
She said many of the advisers she had spoken with were concerned about the longevity of current market volatility.
“The model is looking quite attractive [to them], because they still get to work with the bank and service the needs of the bank’s customer base,” she said.
“We’ve got lots of interest in the rest of our planner base. There’s another 14 partnerships trialling the model.
“In addition to that, there have probably been a handful of planners who’ve contacted me in the last few weeks.”
The program now had partnerships in every state and territory except Tasmania, South Australia and the Northern Territory, she said.
The group’s next move is to build a presence in SA.
The program was launched in October last year after a six-month trial period. It is a career opportunity aimed at planners who want to operate within Westpac Financial Planning while still maintaining their independence.
The program also provides planners the opportunity to move across to BT Financial Group’s dealer Magnitude.
