Deloittes on recruitment drive into financial advice
While at least one Big Five accounting firm moves out of financial planning, Deloitte Touche Tohmatsu plans to grow its operations significantly.
While at least one Big Five accounting firm moves out of financial planning, Deloitte Touche Tohmatsu plans to grow its operations significantly.
According to financial services national partner Steven McCartney, Deloitte is look-ing to double its financial planning business to $1.2 billion under advice within two years.
It is also on a major recruitment drive and recently hired five new senior financial planners in its Sydney, Melbourne and Brisbane offices.
They are George Krithis, previously with Potter Warburg, Malcolm Jackman, previ-ously with William Noall, Steve Romic, ex ANZ private client group, Simon Stokes, formerly with Pembrokes and Tony Creagh, previously with Godfrey Weston.
As reported in Money Management, a number of key staff recently departed Deloitte to set up the financial planning outfit Financial Aspirations.
Despite the senior departures, Deloitte says it will continue to build the financial planning business.
“We intend to grow the (financial planning) business faster than we have grown it in the past,” Michael Kean, the partner in charge of Deloitte Growth Solutions.
“We will be looking for new customers, but my suspicion is that most of our growth will come from the Deloitte customer base. There is a tremendous demand from cus-tomers that needs to be addressed,” he says.
Deloitte’s client base is largely generated internally as the firm works for many of Australia’s top 200 companies and claims to dominate the middle market.
As part of its heightened thrust into financial planning, Deloitte will install wrap ac-count technology and new research software.
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Jason Spits
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