Westpac to boost wealth arm

Company News

Westpac Banking Corp (ASX:WBC) is looking to staff its bank branches with financial advisers, according to media reports. 
 
Group executive of Westpac’s retail and business banking, Jason Yetton, says the push to increase the cross-sale of superannuation and wealth products would target consumers aged between 45 and 65.
 
The bank sees the move to integrate its wealth management into its retail banking strategy as fundamental to its future success.
 
Mr Yetton says the bank is seeking to increase the number of Westpac financial planners, premium relationship managers and small business banking specialists available to customers.
 
Westpac reportedly employs 557 financial advisers. Its wealth arm, BT Financial Group , has 564 aligned advisers.
 
Earlier this month, Westpac posted a first half net profit of $3.3 billion.