ANZ has put a new loan facility in place to enable financial advisers to expand their practices after the Future of Financial Advice reforms are introduced next year.

It is expected a number of older advisers will not want to transition to the new regulatory regime and will want to sell their client books.

ANZ GM Advice and Distribution Paul Barrett says the facility is designed to provide advisers with the flexibility to adapt their business models to the new reforms.

“This loan facility, exclusive to our aligned advisers, will provide them with funding support if they decide to grow their business or refinance through the ANZ,” he said.

“The ANZ Practice Funding facility is a strong endorsement of our confidence in the quality and potential of our extensive adviser network.”

The loan facility was developed by ANZ with teams from its industry specialisation and commercial divisions as well as OnePath staff.

“It will also form an important part of a broader integrated recruitment and succession strategy in development with our aligned dealer group,” Mr Barrett said.