Executive reshuffle for Financial Wisdom
A week after it revealed that it had recruited two key executives from rival Winchcombe Carson, Financial Wisdom has announced further changes to its managerial team and rolled out a range of initiatives to advisers.
As part of a revamped strategy for the Commonwealth Bank-owned dealer, Financial Wisdom general manager Paul Barrett said the group had rolled out the Envision client management software to its advisers and implemented a business coaching program.
He said in light of the initiatives, a number of key positional changes had been made, including Greg Hansen’s promotion to national manager, business coaching.
Barrett said Hansen and Keith Peel, manager best practice, were developing the business coaching tools and processes that the dealer group would launch on September 1, 2005.
He said the new role of practice development consultant had also been created in each mainland capital city. The first appointments for this role were Ian Knight in Victoria and Jason Evans in Queensland.
Barrett said the group was also developing strategic alliances with other organisations.
To support this strategy, former state manager of South Australia and Northern Territory, Frank O’Shannessy, has been appointed to the newly created position of national manager, alliances, with Queensland state manager, John Rynne, now assuming responsibility for the Northern Territory.
Money Management reported last week that Winchcombe Carson’s national dealership manager, Tim Van Leeuwin, and operations manager, Tony Mantineo, had joined Financial Wisdom.
Recommended for you
As the industry navigates the fallout from recent product failures, two major AFSLs have detailed their APL selection process and relationship with research houses, warning a selection error could “destroy” a licensee.
The impending retirement of financial advisers in their 50s could see the profession face significant succession challenges over the coming decade and younger advisers may not be the answer.
With a third of AFSLs being solo advisers, how can they navigate key person risk and ensure they are still attractive propositions for buyers when it comes to their succession planning?
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
