Many investors choose a selection of blue chips who’s names they are familiar with when it comes to investing – which may limit their portfolio gains.

And with many Australians holding mortgages, credit cards and bank accounts with one or more of the big four banks, that’s the primary reason why they are in almost everyone’s portfolio.

But Australia and New Zealand Banking Group (ASX: ANZ), Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB) and Westpac Banking Corp (ASX: WBC) are under pressure, with analysts suggesting that they will be unable to sustain their current levels of dividend payments.

ANZ was the only bank to cut its dividend recently, and the market rewarded it with the share price shooting higher.

That means investors should make sure that their portfolios are diversified beyond the ‘usual’ suspects like the banks, the big retailers and our two big miners.

Here are 3 growth companies that could prove a big boost to your SMSF or investment portfolio…

CSL Limited (ASX: CSL)

Don’t be put off by the blood plasma and biotherapy company’s share price of $109. CSL is a market leader in its field and its products have multiple potential applications – many of which have yet to be commercialised. Based on consensus forecasts, CSL is trading on a P/E ratio of 28x 2016 earnings, but is expected to grow earnings by 26% in 2017, resulting in a P/E ratio of around 22x. That’s cheaper than a multitude of companies on the ASX with less growth potential.

Flight Centre Travel Group Ltd (ASX: FLT)

The travel agent increased its total transaction value by $1 billion in just the six months to end of December 2016 – an astonishing achievement in an era when we can book flights, accommodation, car hire, tours, cruises etc. all online. The company also has profitable and growing operations in 10 countries, and has diversified into a range of travel related products such as tours. At prices under $40, shares look very attractive, with a 4% dividend yield and a P/E ratio of under 15x.

TPG Telecom Ltd (ASX: TPM)

One of Australia’s largest telecommunications companies, TPG continues to pump out double-digit growth in earnings – as it has for many years. And the company could become even bigger if it expands its current agreement with mobile carrier Vodafone. There’s also the fibre rollout to apartment buildings in Australia’s capital cities – in direct competition with the National Broadband Network (NBN). The business case for the NBN was that those valuable apartment connections would pay for the more expensive (and less valuable) regional connections, but TPG’s move to grab those valuable connections are likely to pay off big time over many years into the future.

Foolish takeaway

It won’t surprise you to learn that my SMSF already owns shares in all three, and I’d happily top up on all three.

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Motley Fool writer/analyst Mike King owns shares in TPG Telecom, Flight Centre and CSL. You can follow Mike on Twitter @TMFKinga

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.