Fin Wiz snares Barrett from Fiducian
Fiducian Portfolio Serviceshas lost its head of wealth management, Paul Barrett, who has moved on to join Commonwealth Bank-owned dealer groupFinancial Wisdom.
In his new role, Barrett will work directly under Financial Wisdom general manager Jerome Bleijie, and lead efforts to build planner numbers by working on the group’s value proposition to the market.
Fiducian managing director Indy Singh says the group is presently in the process of seeking a replacement for Barrett, and adds there has been a lot of demand for the position.
Singh says despite the departure of Barrett, the group will not be heavily affected, as he says the team is still staffed by a number of capable individuals and that the group has a solid foundation in place.
At Fiducian, Barrett was responsible for leading efforts to grow the business through recruitment, most recently targeting entrepreneurial advisers within institutional dealer groups wishing to leave to start their own business.
The Financial Wisdom appointment follows a raft of changes at the CBA-owned dealer group at the end of 2003, including the waiving of new licence fees, and an expanded recommended list.
Former Westpac staffer Sue Wiley was also appointed at the time, to the role of business advice general manager.
The changes were driven by adviser demands for more support in growing the business, a broader range of choice on the approved product list, more leads, and improvements to dealer operations support.
AUTHOR
Recommended for you
Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.
With 66 per cent of newly established advice licensees being sole advisers, what are the risks and legal ramifications to consider when taking the plunge into self-licensing?
Despite its popularity, only 1 per cent of financial advisers say they have often discussed cryptocurrency with clients, CoreData said, fuelled by concerns of heavy legal expenses if the product goes wrong.
AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme.
