Securitor chief denies poaching Genesys planners
|
|
Securitor head Neil Younger has rejected reports that Westpac dealer group Securitor has been actively trying to lure planners away from AXA dealer group Genesys Wealth Advisers.
Younger told Money Management that there was “no truth” to reports that Securitor was offering to waive dealer fees for two years and pay up to 100 per cent of platform rebates in the first year to Genesys planners to join the group.
“There are no two-year free fee deals or anything of that sort in the market to induce people away from Genesys or any other dealer group to join Securitor,” he said.
Younger acknowledged that Securitor is currently talking to planners across the industry, but said there are “certainly no campaigns against Genesys and no special deals targeted at its planners”.
“We have our normal commercial terms, which are a matter of public record, and it is purely on this basis that we’re certainly talking to planners within different groups who are attracted to the Securitor offer.”
RetireInvest chief executive Paul Campbell also declined to comment on sustained media reports that RetireInvest too is trying to lure away Genesys planners.
Campbell, who was contacted by Money Management for comment, was appointed to RetireInvest in February from Genesys, where he was previously an executive.
In July, former Genesys head of life risk Col Fullagar also left Genesys to join the ING-owned RetireInvest dealer group in a similar capacity.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
