The Australian Securities Exchange (ASX) has added another three dealer groups to its Find a Planner portal, with plans to sign up further advisory networks by the end of this year.
Avenue Capital Management, FMD Financial and Professional Investment Services (PIS) have now joined the two initial dealer groups - Magnitude and the Association of Independently Owned Financial Planners - profiled on the ASX site.
ASX head of customer and business development Ian Irvine said they were also currently in talks with another 9 dealer groups, predominately independent networks, who were interested in participating in the referral initiative.
"We're looking to add around two or three of those dealer groups by the end of this year," he said.
For a financial planner to become eligible to participate in the referral service they must meet various educational criteria and accreditation in ASX-listed products.
Irvine said Avenue Capital Management had seven of its 38 financial planners taking part in the initiative, FMD Financial had all eight of its financial advisers participating while around 240 of PIS' 1400 planners had become involved in the referral opportunity.
Since its launch in July this year, Irvine said the site had experienced around 400-500 click throughs per month from the ASX site to the profiled dealer group's website.
The launch of the planner referral portal, which is a spin-off of the ASX's Find a Broker resource, was driven by retail investors' interest in ASX-listed investment products, Irvine said.
"This resource is about helping those investors and traders who want to speak about their investment trading needs with a financial planner," he said.
