The Australian Consumers Association plans to get into the business of financial advice, and starting out with advising on home loan products the Financial Review reports.
The quality of financial advice in Australia was appalling the CEO of the ACA, Nick Stace told the newspaper.
He said the quality of financial advice in Australia was "crap" and said consumers "want an organisation they can trust."
The move into broking is in its early days, the AFR reports.
The ACA trades under the name of Choice and may have some difficulty adapting that name in the home loan broking space where Choice Home Loans, eChoice and Mortgage Choice are all established brands.
Choice is already engaged in a commercial venture in the home loan sector with One Big Switch, a firm that is seeking to negotiate the refinancing of thousands of home loans on behalf of Choice subscribers.
The request for proposal from banks on that initiative closed three weeks ago.