Plum Financial Services (Plum) has revised its financial advice offering to its clients by adding a special program to suit the needs of high net worth individuals such as company senior executives.
The whole service will now be known as Momentum and will consist of a financial advice, loan solution, and private wealth unit, the last of which is an entirely new offering.
“What our clients said to us was ‘your offer is great but when you’re dealing with the CEO and CFO etcetera, we’d like to have an adviser that’s a bit special’. And that’s basically the nub of why we’ve got Momentum Private Wealth,” Plum Financial Services managing director Mike Fitzsimons said.
The new service will be managed by a group of 15 adviser selected from within the Plum’s authorised representatives that number 60 in total.
“You have to be invited to be a high net worth planner. So we need to be very, very comfortable that they’ve got all of the qualities they can demonstrate with the SOA (statement of advice) work they’ve done in the past and the like,” Fitzsimons said.
Along with the revamp of its advice service, Plum has also launched a new pension product, Plum Pension, which is an adaptation of the pension offering supplied by parent company MLC.
Plum Pension has been designed to service the entire pension lifecycle for clients and includes features such as flexibility in pension payments, fee rebates for transition to retirement members, and online access to account information.
