Expansion strategies and preparation for the Future of Financial Advice (FOFA) reforms were key priorities for ANZ Wealth, the group's head of practice-based financial planning, Neil Younger, said yesterday.
"My priorities fit into a couple of areas. One is to ensure that the ANZ Wealth and OnePath business has the right aligned strategy for growth," Younger told InvestorDaily.
It was important for the dealer group to effectively manage risk within its business model and develop productivity, he said.
"A lot of my immediate priorities are to ensure the business is FOFA ready, [and that] risk governance frameworks continue to be operating effectively and are robust for the business future," he said.
"We're also doing a piece of work that is taking components of the value of advice and more addressing tactical needs of planning practices as opposed to holistic programs."
ANZ Wealth was also examining the management of the government's reforms post-FOFA from a licensee angle, he said.
"We've done quite a bit of work in that area so that we're as readied as possible," he said.
"But there is still a reasonable amount of work for us to do.
"[Also] we're doing some work around licensees and their value proposition, and some areas [where] we think we can create some competitive advantages."
Younger joined ANZ in November last year from Commonwealth Bank of Australia (CBA).
While at CBA, he held the position of Commonwealth Financial Planning general manager.
