Fortnum appoints new chair

Fortnum Private Wealth has appointed Nigel Douglas as its new independent chairman of the Investment and Insurance Committee to further its advice and solutions strategies.

Douglas would be responsible for the oversight of Fortnum’s investment business, including its growing managed discretionary account (MDA) services.

He has had over 30 years’ experience in the financial markets and has held positions as head of research at vanEyk Research, head of investment research at Perpetual Private and senior manager mandate research at ANZ Wealth. 

Douglas was also the chief executive officer of Douglas Funds Consulting, an independent firm that specialises in funds research and investment advice.

The appointment followed the addition of former Centric Wealth CEO, Glen Castensen, as company executive earlier this year.

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Fortnum managing director, Neil Younger, said the new additions would aid the business in its bid to deliver advice and business solutions to their practices.

Douglas said the Fortnum committee has run a rigorous research process and would continue to identify well-structured investments and work to generate better portfolios for advisers and their clients.

He said he looked forward to working with the business’ open structure as it provided scope for innovation.

“The role gives me the opportunity to provide independent, well-researched advice to a growing group of advice-driven practices,” said Douglas.