Bridges ramps up external dealer services
Tower Wealth Management owned dealer group Bridges has increased its push into the external dealer group services market by appointing former BT head of wrap specialist Gillian Carless to the newly created position of manager external dealer relationships.
Carless, who has also been a business development manager at Sealcorp, will be responsible for broadening the distribution of Bridges wealth management products and services to dealers that may be considering outsourcing.
By appointing Carless, Bridges says it hopes to expand upon the number of external dealers it already provides services to, in addition to around 140 planners across its 43 branches.
“We are very serious about moving into the market and that’s why we’ve created this position,” Bridges head of relationship services Paul Thomas says.
He adds the service will typically be for the smaller boutique dealers requiring back-office assistance.
“We believe a number of dealers are finding it increasingly difficult and costly to maintain adequate compliance and other dealer services to meet their FSR obligations. Many of these would benefit from utilising some of the quality dealer services Bridges has built up to rigorous standards,” Bridges chief executive Chris Wren says.
Meanwhile, Tower Limited is still awaiting the results of an independent review by the Caliburn Partnership of its proposal to list Tower Wealth Management, which also includes the Tower Trust business, separately on the Australian Stock Exchange.
The results are expected in the next within the next fortnight.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
