A mortgage management firm has launched an independent financial planning arm in an effort to diversify.
Australian Capital Home Loans said that following a soft launch of the business in 2010, it was now officially launching a full service advice opportunity for financial planners.
The group said it would offer planners the ability to diversify under its ACL, AFSL and real estate licences, to provide a broader offering that would compete with the bigger banks and insurance firms.
Managing director Barry Parker said planners will begin to see more competition from the institutions that offer a full suite of financial services, and claimed joining Australian Capital was a way of "fighting back".
Parker said the group's plan was built around assisting a customer through their full financial life.
“I’ve always seen a strong relationship between financial planning and home loans, and I want to make that a priority for our financial services consultants,” Parker said.