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MLC Wealth preparing for NAB split

By Grace Ormsby · August 16 2019
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Geoff Lloyd
MLC Wealth preparing for NAB split

MLC Wealth preparing for NAB split

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By Grace Ormsby · August 16 2019
Reading:
egg
egg
egg
Geoff Lloyd

MLC Wealth’s pending split from NAB has seen the advice business aim to modernise and strengthen its offerings.

A new statement has re-iterated MLC Wealth’s launching of a new strategic intent for the business and a new operating model, as of March 2019.

The four key business pillars of the “simpler, more focused and sustainable advice business” will be advice, retirement and investment solutions, platforms, and asset management, according to MLC.

Commenting on the transformation, MLC Wealth’s CEO Geoff Lloyd said that “to meet client needs, advice organisations of the future will have sophisticated segmentation and a commitment to deliver great experiences to more defined client markets.”

He said from 15 August, 2019, the company is taking foundation steps for the advice business, being “determined to lead and support the industry in driving a new era of professionalism and transparency that drives better outcomes for clients”.

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As part of the new direction for the wealth advice offering, Mr Lloyd has said that in the future, there will “continue to be a strong need for quality advice – for individual clients and to support a strong economy, as the influence of the national retirement savings pool grows”.

“We believe in the financial and wellbeing benefits professional advice can bring to people’s lives and there will be ongoing demand with record household wealth and an ageing population – and more than $3 trillion to be transferred between generations of Australian families over the next two decades,” he said.

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