Snowball gets ready to roll
Snowball has recruited former St George executive Carl Scarcella as general manager of operations as it prepares to unleash its online financial services product on to the market.
In the newly created position, Scarcella will oversee product development, compliance, finance and customer services areas. Prior to joining Snowball, Scarcella spent a lengthy term with St George's investment services business.
Snowball director Bruce Pellow says Scarcella's appointment comes at a pivotal time for the group.
"We're still building up our staff numbers. We're almost at a product launch stage," he says.
Pellow says the founding directors of Snowball knew Scarcella well from his time at St George, as Scarcella was part of the St George team bidding for Sealcorp when it was sold three years ago.
Pellow was one of the key executives of the Sealcorp business that left the group in the past few years to develop the Snowball concept. Others to follow include George Haramis, Terry Williams and Cathy Duncan.
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.

