According to netwealth executive director Matthew Heine, the group has seen its FUM grow by $1 billion over the last 12 months.
The basic netwealth wealth accelerator product gives investors access to three term deposit providers, as well as cash options and 11 managed funds.
The fund has a group insurance arrangement with AIA, along with an agreement with TAL that has been in place for six months, Heine said.
The group is also restructuring its advice operations, which are now entirely based in Sydney (whereas the manufacturing side of the business is Melbourne).
“This year we’re launching a four-tier adviser support structure. What we’re doing is building out the distribution team and freeing them up so they can see a lot more advisers,” said Heine.
The dealer group NAG was launched in March, and is comprised of Pathway Licensee Services, Financial Planning Services Australia (FPSA) and Bridgeport Financial Services.
NAG head of advice Simon Micallef said he would be making a number of key appointments to the three advice businesses in the next three to four weeks.
Micallef is also the managing director of FPSA, which he said is currently expanding its value proposition from six services to 13.
“In part, we’re going to focus on practice management and practice improvement … through business coaching and increasing sales activity,” he said.
FPSA will also deliver new paraplanning, transition management, succession planning and marketing services to its advisers, said Micallef.
Heine recently spoke to ifa about plans to grow the netwealth platform’s popularity across NAG’s dealer channels.
