Financial advisory firm RI Advice Group (RI) has signed an alliance with a Tasmanian banking group four months after an initial trial.
In a statement to the market yesterday, RI said it had entered into an official alliance with B&E Personal Banking.
The deal was struck between B&E chief executive Paul Ranson and RI Tasmanian-based principal Grant Howe.
"This alliance is a great way for us to attract potential clients and has already enabled us to expand our client base. Early indicators are very positive, for example, since rolling out from the pilot branch at the end of January we have had more than 40 appointments," Howe said.
B&E chief executive Paul Ranson said the decision to partner with a financial advisory group was to fill a gap in the company's service offering.
Ranson said the reason the firm signed with RI and Howe was based on, among other things, the advice offer and transparent fee structure.
"We were impressed by the quality of the advice offer and the transparent fee structure at a local level partnered with the marketing, systems, sales and best practice support at the dealership level," he said.
RI chief executive Paul Campbell said the alliance was part of RI's "continued focus and commitment" to business growth.
"Many of our offices are aligning themselves formally with local groups such as accountants and solicitors as a way of generating leads and referrals," Campbell said.
B&E has a client base of more than 36,000 Tasmanian members.
The banking group offers term deposits and savings and Internet cash management accounts through to home loans, personal loans and general insurance.
