Mortgage group on adviser man-hunt

Mortgage aggregator Vow Financial has announced its intention to recruit financial advisers following its $17.6 million acquisition by Yellow Brick Road (YBR).

In a job advertisement posted on LinkedIn, Vow Wealth Management announced it has created a “significant opportunity for 10 financial planners” to join its new licensee network and gain access to a referral network of 700 mortgage brokers.

In addition, the sought-after “top 10 financial planners” will get access to a mentoring and education program which Vow says will provide access to “all the major fund managers” and “ongoing training and support”.

Candidates with three years’ experience or more are being considered for inclusion in the top 10 financial planners network, says the post, adding that the Vow licensee “focuses on building strong client relationships without the brand product sales for company profit”.

However, a statement from Vow Financial chairman Peter Neustadt in May – following the acquisition by YBR – made clear that introducing Vow brokers and advisers to “YBR’s wealth management products and experience” will be a “key asset” in the merger’s success.

The search for the top 10 financial planners comes as Vow hires Michael Clifford, the former owner of financial services consultancy Shirlaws, to head up its wealth management division.

“The opportunity within the Vow network for professional partnerships with financial planners is immense,” Mr Clifford said in a statement announcing his appointment.

“Working in a business with solid mortgage foundations, a great culture and a fantastic opportunity to integrate experienced professional financial planners with the existing broker network was a key reason for my involvement.”

Vow’s escalation of its broader wealth management strategy follows the announcement that Ray White-aligned brokerage Loan Market has launched a financial planning dealer group arm.

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