BT snaps up Butterworth
BT Financial Group has appointed former DKN chief executive Phil Butterworth to head a new financial planning business unit that will include the established Magnitude brand.
Butterworth will be joined in the new unit by former Lonsdale chief executive Mario Modica, former Lonsdale executive director Kon Costas and former DKN executive director of distribution Andrew Rutter, according to BT.
BT Financial Group general manager of advice Mark Spiers said that the appointments would help BT cement its position in a market that is transforming as a result of a changed regulatory environment and growing demand by consumers for sound financial advice.
"It's a very exciting time and we look forward to welcoming Phil, Mario, Kon and Andrew next year to help build on our heritage of industry leadership, product and service innovation, deep client relationships and quality in everything we do," Spiers said.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
