Bendigo and Adelaide Bank has announced the launch of Bendigo Wealth, a new wealth management division that will leverage off the bank’s high brand recognition and leading customer satisfaction ranking.
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Managing Director, Mike Hirst said, “As Bendigo and Adelaide Bank has grown, so too has our ability to understand how we can better meet the needs and expectations of our distribution partners.
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“Our distribution partners told us that they would appreciate the greater convenience of new bundling options and a similar look and feel across our product range. These conversations have been very valuable in setting the direction of our wealth business and we will now bring these findings to life.
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“The realignment and expansion of our wealth management operations will see us pursue opportunities that will position the group to manage a greater share of the growing Australian managed investment pool, along with life, risk and general insurance that our distribution partners may have overlooked when dealing with one part of our wealth offering”, Mr Hirst concluded.
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Bendigo Wealth Executive, John Billington said: “In keeping with our aim to be Australia’s leading customer connected banking group, we undertook a survey of our retail banking customers, financial advisers and also included people who didn’t currently have a relationship with us.
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“Overwhelmingly, they thought Bendigo Wealth as a name was appealing and best encapsulated the full suite of products and services we’re now delivering.
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“Bendigo Wealth as a brand will make it easier for our highly valued distribution partners to explain the product range to clients – and for clients to more easily make the connection to a financial services brand that they both recognise and trust.
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“What we needed was a simple way for our distribution partners to be able to connect to the full suite of financial services and products we now have on offer after the various mergers, acquisitions and partnering arrangements the bank has undertaken in recent years.
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“We also want to make it easier for financial advisers to not only be able to see the full range of investment solutions we offer, but to make it easier for them when they are having conversations with their clients about our products. The dots are easier to join for all parties and investing with the Bendigo and Adelaide Bank group is now an easier story for advisers to tell.
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“This is an exciting new era in the evolution of the Bendigo and Adelaide Bank group and I look forward to seeing Bendigo Wealth play an increasingly important role in helping our distribution partners meet the needs of their clients.
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“The Bendigo ‘experience’ is deeply embedded in the DNA of Bendigo Wealth. We are highly recognised and awarded for epitomising service, reliability and trust as a bank and this tradition and heritage will continue to grow with the launch of Bendigo Wealth”, Mr Billington concluded.x