Perpetual private clients arm split
Perpetual’s private client division has split its financial planning operations into two separate planning tiers as a part of a restructure of the business.
Perpetual’s private client division has split its financial planning operations into two separate planning tiers as a part of a restructure of the business.
Perpetual’s 20 advisers will be divided into two distinct tiers, strategic planning and in-vestment planning. Senior financial consultants will look after the strategy part of the plan alongside Perpetual’s tax and legal team while the investment consultants determine the clients asset allocation based on their risk profile and then select particular funds for the client’s portfolio. The Investment consultant is also responsible for monitoring in-vestments and the regular reviews of the underlying investment portfolio.
Perpetual Private Clients group executive Wayne Wilson says the two tier structure is the result of two years development.
“It seems to be the right model for Perpetual. It enables us a controlled approach with our clients as well as a competitive advantage,” he says.
“Our new structures have allowed us to centralise about 80 per cent of our work in Sydney.”
Wilson says the strategic planning structure has already been implemented with the group’s senior financial planners. Perpetual’s 20 financial planners are backed by the division’s 180 staff.
Recommended for you
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.
