WHK Group has begun reviewing the strategic direction of the company’s business units, including the business models of its financial planning division.
The listed financial services firm is examining the company’s business models in a bid to shift from its existing model of expansion by acquisition to a model of organic growth, WHK group head of financial services John Cowan told InvestorDaily.
“As the acquisitions have come on, what has occurred is that there has been a consistent compliance framework applied to all of the firms,” Cowan said.
“But typically a lot of them operate with different business models and what we’re doing is we’re doing a review of the business models, with a view of coming up with what we think is the best practice.
“The core outcome is to improve the level of organic growth that we have in our businesses. Because we’ve evolved from acquisition we’re now strategically saying that now that will be less important, so organic growth is important.”
WHK intends to roll out a new sales culture program across the financial planning area as well as the rest of the firm’s financial services and business services divisions, Cowan said.
“That program is going not only to the financial planning but across the financial services and business services piece as well,” he said.
WHK undertook the review with the help of stakeholder Macquarie.
“We’re reviewing and developing and designing a plan and it’s scheduled to start implementing at the start of October,” Cowan said.
Earlier this year WHK and Macquarie entered into a partnership arrangement.
Cowan would not be drawn on future business opportunities between the groups, however he said there could be future announcements.
“We’re discussing various initiatives in different parts of the business, so I expect more to come in the future,” he said.
