Preece resurfaces at Ord Minnett
Former MFS head of distribution Sean Preece has returned to the financial services industry to take up the position of head of distribution for Ord Minnett’s asset management division after resigning from his previous role last year.
Preece left MFS in August 2005 to stay with his family in Sydney after the Gold Coast-based company moved to relocate its senior executive team to its head office in Southport, Queensland.
Prior to working for MFS, Preece was the general manager of distribution services for Challenger Financial Services Group. He has around 16 years experience in the funds management industry.
In his new role with Ord Minnett, Preece will assume nationwide responsibility and be based in Sydney, where he will report to Ord Minnett Asset Management managing director Walter Lewin.
Lewin said Ord Minnett was delighted that Preece decided to join the company.
He said Preece would continue to work closely with platforms, research houses and key dealer groups, as he had done in all his previous roles.
“We have recently released several new offers that will be made available to the market, including the Ord Minnett Enhanced Income Fund. Sean will be integral to the continued growth of funds under management for these offers,” Lewin said.
“Sean’s knowledge and experience will also assist us in identifying new products that will meet the needs and expectations of both investors and distribution partners.”
Ord Minnett is approximately 70 per cent owned by directors and employees and 30 per cent owned by J.P. Morgan. It currently has funds under management of approximately $500 million.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
