Intiger Group has requested a trading halt of its securities pending clarification of the announcement made earlier today.
NAB has also now provided ifa with further clarification.
In another statement, NAB said: "NAB has discussed overflow paraplanning service options with a range of companies for when client demand exceeds our internal capacity, including with Intiger. However, NAB has made no decisions on whether we will pursue any of these options and there is no MOU in place."
An Intiger director denied ifa's request for comment.
*** 2 pm update*** NAB Financial Planning has denied Intiger Group's claim that the two companies have entered into an MOU.
In a statement to ifa, a NAB spokesperson said: "NAB always looks for ways to improve the way we do business, but we have made no decisions to change the way we do business, and we have not entered into an MOU with Intiger Group."
ifa has now reached out to Intiger for clarification.
More to come.
NAB Financial Planning has entered into a memorandum of understanding with a software provider, as the dealer group reviews its paraplanning and advice creation processes.
According to a statement by Intiger on the ASX, NAB Financial Planning has entered into an MOU with Intiger Group to conduct a range of mock client Statement of Advice (SOA) processes.
As part of the deal, NAB Financial Planning will assess Intiger’s paraplanning and advice creation capability, generate “qualitative and quantitative learnings and explore the current competitive landscape”, the statement said.
The move comes as NAB Financial Planning is reviewing its advice process in respect of quality and cost of advice and optimisation of the customer experience.
The engagement will begin the week of 6 March.
The statement added that NAB Financial Planning has more than 400 planners and specialists across more than 200 locations throughout Australia.
NAB advisers are also members of the FPA and adhere to set standards in relation to ethics, conduct and continuing professional development, the statement said.
Mark Rantall, former FPA chief executive, is chairman of Intiger.
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