The Institute of Public Accountants (IPA) has launched a new online referral service for financial advice in response to demand from its members in partnership with AMP and National Australia Bank’s wealth divisions.
The referral service will give IPA members, who do not want be involved financial planning, access to local and qualified financial advisers through both National Australia Bank’s MLC and Axa/AMP financial advice networks.
The online service currently comprises 400 planners from both financial services companies but has the potential to increase to 1000 across Australia, IPA executive general manager of representation and innovation Vicki Stylianou told InvestorDaily.
“We have a filter for all of the planners so it is not all of their planners. It is the ones who are more experienced and prepared to work with accountants and those with certain minimum qualifications,” she said.
IPA’s members will be able to search for financial advisers by selecting from search criteria including location, scope of advice, size of practice and client segment.
The search will provide up to three planners from both MLC and Axa/AMP with contact details.
The service lets accountants search at their own pace and time, but gives a central point where they can go to research on what they are after.
“The whole idea is we hold their hand through this. The nature of the relationship is completely up to them,” Stylianou said.
AMP has already noted to positive response from its advisers within the Charter Financial Planning, Axa Financial Planning, Genseys and Quadrant licensees.
“[Advisers] are keen to work proactively with the institute’s members to put in place great working relationships for the betterment of the members’ clients,” AMP Financial Advice Network head of marketing and business programs Sam Aylett said.
MLC national manager of accountant solutions Nick Hilton said the new referral service is effective for MLC licensees such as Godfrey Pembroke, Apogee and Garvan to help IPA members offer relevant financial services to their clients.
“It’s really about the advisers that are appropriately qualified and suited to the accountants, who can then be introduced to the accountants,” he told InvestorDaily.
He explained that ‘relevant’ advice would depend on the relationship with the accountant.
Access to the referral service is free to IPA members.
