A 20-year plan: Apt Wealth enacts succession with CEO appointment

Advice firm Apt Wealth Partners has appointed Andrew Dunbar as CEO to lead the firm in its next growth phase, while former CEO James McGregor will step up as executive chair to focus on M&A plans.

Following an 18-month transition period where Dunbar worked alongside McGregor, he will now step out of his role as director and head of advice, stepping up to lead the NSW and Victorian firm as CEO.

While there was already a long lead time before the official transition took place, Dunbar told Money Management that he and McGregor had been discussing his succession for several years.

“James and I have, for quite a few years, had it in our mind and in our planning that, as he got to a life stage where he was looking for a bit more balance in life, I would take over from him in the CEO role," Dunbar said.

In the new role, McGregor will move across to become executive chairman in order to focus on M&A, governance, and investment management at the firm.

"This transition reflects a deliberate, long-term succession plan designed to ensure continuity for our clients and our people, while positioning the firm for the opportunities ahead," McGregor said. "Our vision remains unchanged: delivering exceptional advice and outcomes for generations to come."

Taking a long-term view to business planning is a key characteristic for Apt, according to Dunbar, with the firm thinking as far as 20 years into the future, including who might succeed him.

This is helped by new advisers who are joining the firm’s graduate and professional year (PY) programs, and Dunbar said accelerating this will be a priority for him as CEO.

“I’m already identifying and thinking about the leaders in the business that’ll take over from me one day,” he said.

“Succession and leadership development is a huge part of what we’re doing at Apt. We want to build a multi-generational, enduring firm for the future, and if you’re going to do that, you need to have succession planning right across the organisation, from the top down, to fulfil those long-term plans.

“We don’t have a 12-month plan, we’ve got a 20-year plan. So, when you’ve got that, there’s a lot of consistency about the way you go about things to create an enduring firm for clients and for staff.”