Broker franchisees lining up for financial planning diversification

by AB10 Oct 2013

Major franchise group, Mortgage Choice, says more than a quarter of its existing brokers have opted to diversify into financial planning. The announcement comes as the group’s new financial planning arm reaches its one-year anniversary.

Tanya Milnes, general manager of Mortgage Choice Financial Planning, says there’s growing interest from existing franchise owners to diversify their businesses by expanding into the area.

“More than one in four existing Mortgage Choice franchise owners have signalled their intentions to start a financial planning franchise,” she says.

“In order to keep up with this demand, we need to recruit more advisers. In saying that, we have been very selective with our hiring so far to ensure that our advisers are of the highest quality.”

Milnes says that, in a post-FoFA environment, advisers want the systems and process support of a big advisory along with the flexibility and freedom to offer their clients quality products and realistic pricing. With this in mind, she believes Mortgage Choice’s proposition is a unique one.

“First, our mortgage brokers refer home loan customers to our advisers so our advisers receive well qualified leads from customers in all stages of their financial journey. This gives our advisers the opportunity to work with the customer to make a difference to their longer term wealth.

“Second, we are not controlled by a financial institution, so our advisers are not restricted to offering products from one supplier; they have a range of suppliers and products to choose from, based entirely on merit and client need,” says Milnes.


  • by Eyesbrows raised 10/10/2013 11:35:54 AM

    I am amazed that with the level of complaince and specialisation required within any single profession, people think that they can be masters in several.

  • by Clarification 10/10/2013 2:32:17 PM

    Mortgage Choice's new financial planning business allows brokers and planners to remain as specialists in their chosen field. Under the business model, planners are brought on to work in partnership with the mortgage broker and vice versa.

  • by cynical 10/10/2013 3:33:29 PM

    sounds like the McDonalds of Mortgage Broking & Financial Planning....