Genesys Wealth Advisers has been named the preferred financial planning partner for the Australian Wheat Board’s financial services arm, Landmark.
The Challenger-owned dealer group signed a national alliance with Landmark earlier this month following the end of a trial run, which both parties signed in December last year.
The alliance gives Genesys access to Landmark’s 430 outlets across the country.
“We’ve been pleased with the referrals that have come through and Landmark has been pleased with the client outcomes that our advisers have been able to deliver. It was that success that led to the formalisation of the arrangement,” Genesys Wealth Advisers executive director Andrew Creaser said.
Creaser said the alliance came about after Landmark employees saw the financial planning and estate planning needs of regional communities.
“Landmark’s core financial services business is a debt business so naturally there are estate planning and insurance opportunities that flow out from the back of that,” he said.
“So their operatives were very quick to pick up on the opportunities and as a consequence the referral quality is very high.”
The referral network is how Genesys plans to service the Landmark alliance, as the dealer group does not have offices in all of Landmark’s locations.
“We won’t have offices in all the places where Landmark is, but what we’re doing is looking at a footprint around our offices,” Creaser said.
“For example, someone from the central west [of New South Wales] has a need that Landmark identified who [are] then likely to be referred to our Dubbo Genesys office.”
Genesys’ alliance with Landmark ends a tumultuous nine months for the dealer group.
The dealer suffered a public dissension in its ranks when a number of key adviser and member groups quit the dealership after their shares in Challenger were released from escrow on August 22.
“We’ve had nine months of fairly constant change and challenge as we’re repositioning the division for Challenger,” Creaser said.
“We’re by no means complacent about the challenge that we still have ahead of us.”
