More firms leave Genesys for Fortnum
Genesys Wealth Advisers has lost the former chair of its national advisory council, Andy Murdock, and his practice to Fortnum Financial Group.
Murdock is not the only member of Genesys’ adviser council to resign from the group in recent weeks. Another council member, who doesn’t wish to be named, has also taken his Queensland-based practice to the group headed by Ray Miles.
Sandy Dunshea, another advisory council member, has also left Genesys for Fortnum.
Another loss for Genesys is former Australian Test cricketer Murray Bennett, who will take his practice to Fortnum in October.
Fortnum now has six former Genesys practices under its banner, while a further six have resigned and will join Miles' group in the coming months.
Back at Genesys Rob Adams has been named Andy Murdock’s replacement as Chairman of the Genesys national advisory council, having been the Victoria and Tasmanian representative since December 2008.
Recommended for you
The director of Ascent Investment and Coaching, Michael Dunjey, has been charged with 33 criminal offences.
Adviser Ratings’ latest financial landscape report finds there is a demographic of advice practices achieving an average revenue of $5 million, with only 3 per cent of practices overall seeing a revenue decline.
The FAAA is calling for regulators to take a partnership approach with financial advisers regarding incoming legislation, rather than treating the industry as “guinea pigs”.
There have been strong numbers of returning advisers this year so far, according to Wealth Data, already surpassing the same period for 2024.
