CoreData research has highlighted Australian financial advice practices are offering a range of services beyond just advice, with mortgage broking being the most common.

Advisers are looking to diversify their service offerings to meet clients’ increasing complex needs, with 29 per cent of firms providing mortgage broking services.

While nearly one in three advice businesses deliver mortgage broking services in-house, the majority – 54 per cent – refer clients externally to a broker, reinforcing the critical role professional networks play in financial services.

Additionally, the research house found 64 per cent of these referrals come from advisers’ own personal relationships, while 36 per cent are through the firm’s relationships.

Other common services beyond financial planning include insurance broking (27 per cent), tax advice (24 per cent), accounting (22 per cent) and stockbroking (21 per cent), CoreData discovered.