Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 3AW account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 3AW content and other benefits.


Joining is easy.

Advertisement
Advertisement
Advertisement

Rumour confirmed: Potentially hundreds of jobs in jeopardy as Westpac quits financial advice

Ross and Russel
Article image for Rumour confirmed: Potentially hundreds of jobs in jeopardy as Westpac quits financial advice

THE RUMOUR FILE

Westpac is selling off the financial advice arm of its business, putting potentially hundreds of jobs in jeopardy.

First heard on the Rumour File today, the bank made an internal announcement about the changes early this morning.

The bank confirmed its BT Financial Group will be rolled into Westpac’s consumer banking division, with the business sold to Viridian.

The Age reports Viridian set to offer employment to about 175 BT salaried advisers, and other management and support staff.

But Westpac currently has about 900 full-time staff in financial advice, including support staff.

Financial advice was one of the biggest problem areas unearthed during the banking royal commission.

Ross and Russel
Advertisement