Mortgage Choice Financial Planning insurance premiums totalled $22 million for the six months to December 31, up 27% on the corresponding period of 2015.

The company had 38 financial planning franchises and 45 advisers at December 31, up from 33 and 38 respectively a year earlier.

Referrals to the company’s financial advisers grew 9% to about 2500 in the six months.

Mortgage Choice CEO John Flavell he believes referrals can grow further.

“New strategies have been implemented to open more conversations about the value of financial advice and, in turn, increase referrals,” he said.

Revenue for the financial planning business was $4.9 million in the half, up from $4.1 million. Net profit after tax was $35,000, compared with an after-tax loss of $266,000 in the corresponding period of 2015.

Mr Flavell says the financial planning business is performing strongly.

“Throughout the first half… the financial planning division has gone from strength to strength, with this business now consistently profitable on a monthly basis,” he said.

“Our network of mortgage brokers understands the value of providing their customers with access to professional financial advice. As a result, a larger proportion of our customers’ wealth needs are now being met.”