Holden strikes advice deal with AIOFP

With the much-publicised closure of Holden’s manufacturing operations in South Australia, between 40,000 and 80,000 employees will become eligible for a company-subsidised financial advice consultation as part of their redundancy packages.

An email from a Holden corporate administration executive, seen by ifa, confirms that the AIOFP won the successful tender process for the provision of “financial services” to redundant employees.

AIOFP members who are accredited with the association’s Certified Financial Strategist (CFS) program will now be eligible to receive $300 from Holden to be put towards sessions, with the first of these seminars taking place in recent weeks.

Peter Johnston, the association’s founder and executive director, said the non-aligned structure of his members was a clincher in securing the deal.

“We believe the qualities of the CFS designation was the critical point of difference in our tender document,” Mr Johnston said.

“The choice of either institutional or industry fund financial planners with their obvious product bias and conflicts compared to an independently-owned financial strategist with a tertiary education, non-conflicted research, ASX experience and a minimum of 3 years' field experience created a compelling advantage for the AIOFP.”