Three planners who left WM Mercer to join Hillross last week have agreed not to contact their previous clients as part of the move.
The three planners, Greg Fagan, David Murray and Adam Davenport commenced work with Hillross on Monday of this week after concluding their employment with Mercer last week.
Mercer says the new managers have been appointed for the clients of the three planners and the clients had been approached notifying them of the changes.
It also says the response had been positive with those clients contacted for far indicating they would remain with Mercer.
Hillross sales and marketing national manager Ross Victor says the three planners were of a very high calibre and could have been picked up by any dealer group.
“We did not actively pursue these planners and they decided to join Hillross after making their own investigations,” Victor says.
The new practice will trade under the name FMD Financial out of offices in Little Collins St in Melbourne with the business set up as a partnership according to Victor.
Victor says that he expects the trio to quickly build a customer base using established networks, seminars, referrals from accountants and parts of the industry as well as leveraging off their profile in the industry.
The three planners were keen to advance their careers and to pursue business as self-employed planners and it was timely to strike out and position themselves in the market according to Victor.
Mercer has stated it was not surprised to see the trio head off given the changing landscape of the financial planning industry.
