New advice GM for Westpac/BT
Rob Coombe
Mark Spiers, chief executive of Magnitude Financial Planning, BT’s external financial planning arm, has been appointed general manager of advice for Westpac/BT.
Spiers replaces Sally Herman, who was recently appointed general manager, sustainability, brand and communications, for Westpac.
Sean Allen, who has been acting general manager since Herman’s departure, will return to his role as head of consumer advice NSW/ACT.
BT chief executive Rob Coombe said Spiers’ “in-depth knowledge of financial planning industry issues and opportunities would help shepherd BT’s advice business into a new era of customer service and solutions”.
“Sound financial advice has never before been such a vital service to so many Australians (at a time when) our super and retirement landscape is as confusing as ever for many.”
Spiers has held a number of senior executive positions in the financial advice industry and has made a significant contribution to the industry as a columnist, industry commentator and presenter.
He is currently deputy chair of the Financial Planning Association (FPA) and has sat on the Legislation and Regulation Committee of the FPA for eight years, the last five as chairperson.
Recommended for you
The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to switch their superannuation into a poorly performing product.
With adviser losses set to continue, Wealth Data founder Colin Williams has detailed which business model is likely to drive the exodus.
Traditional relationships between advisers and business development managers are evolving, with the expectations for them to provide meaningful guidance to the advice practice.
Padua Solutions has poached an individual from Colonial First State to take on a newly created role focused on overseeing its technical capabilities.
