Last week Mortgage Choice announced that Mr Flavell would be succeeding Michael Russell as the new chief executive of the ASX-listed mortgage brokerage and advice licensee, having held senior roles within NAB’s third-party distribution businesses for a number of years.
Speaking to ifa sister title The Adviser, Mr Flavell said one of his top priorities as CEO will be to make the company as well known in wealth management as it is in the mortgage space and capitalise on the $1.8 trillion in superannuation.
“If Mortgage Choice takes the same principles and approach to meeting consumers’ needs in [the wealth management and superannuation] space as they’ve done on the mortgage side – and that’s about saying impartial, professional advice delivers great outcomes for customers – then the growth opportunity there is immense,” Mr Flavell said.
Mr Flavell said he had coveted the Mortgage Choice CEO role for a number of years and said his recent experience at an institutional wealth manager makes him an ideal fit.
“I’ve been keen on this role for many, many years and I spoke to Michael Russell about being his successor over three years ago.
“The reason I’m attracted to the role at Mortgage Choice – amongst other things – is that I believe in the industry, I believe in the value that mortgage broking delivers, I believe in the potential for Mortgage Choice to deliver a broader range of solutions.
“For me to have had some experience in running the second-largest wealth advice business in the country over the past two years is something else I could add to the experience I have on the mortgage side.”
“Impartial and Professional “advice can now be added to “Independent” and “Fee for Advice” as terms used to justify conflicted advice.
I wonder where the educational standards will be set at to allow mortgage brokers to tap into and capitalise on the superannuation “space”.
I wonder what else was in the “amongst other things” that attracted John to leave an “institutional wealth manager” after only two years to take up this coveted role.
Dace – why won’t their advice be impartial? Do you know what products are on their APL?
Impartial advice, please explain. Wonder what the regulators opinion is going to be. FOFA reforms apparently mean nothing when it comes to market share.