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
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.