Financial services firm All My Funds (AMF) is expecting record numbers of referrers for its superannuation services by the end of the year.
AMF managing director Wayne Robinson anticipates referrer numbers for its superannuation advice report and fee-rebate services to increase from 45 to 300 by the end of 2008.
The company relies on referrals from mortgage brokers, insurers, accountants and superannuation advisers who it pays commissions to for selling its services to clients.
AMF was relying on around five to 10 referrers joining every month, but is getting that about number per week, Robinson said.
“The response has blown my expectations away,” he said.
AMF targets its services towards people below 40-years-old who may not be wealthy, while the industry mainly targets high net worth clients to give advice to, Robinson said.
“Our (superannuation) advice report costs $275, it is over $1000 for that from a financial planner,” he said.
AMF is currently in talks with other firms for the possible badging of its services.
