John McIlroy leaves Multiport
Multiport managing director and founder John McIlroy will leave the business and be replaced in the interim from 16 April by former iPac head of financial planning Libby Roy, AMP has announced.
AXA Australia purchased Multiport in 2009 and integrated into it the AMP Group following the AMP/AXA merger in 2011.
AMP director of banking and wealth management products Rob Caprioli said McIlroy had played an important role in the development of the SMSFs market in Australia.
"John has been a driving force in the development of the SMSF market in Australia, with Multiport now a pre-eminent SMSF provider with more than $2 billion in funds under administration and with an increasing presence in the managed accounts area," he said.
Roy's most recent position as general manager ipac financial planning saw her take charge of ipac's in-house and equity partner network, including 150 advisers and overseeing funds worth over $5 billion.
She has over 17 years experience in Australia and the United States across a range of industries. Roy has also held the position of general manager American Express Travel for Asia-Pacific.
Her financial services history includes general management, marketing, product development and operations. She has also worked for Booz as a strategy consultant.
Mr McIlroy will take a short break before pursuing other business activities.
AUTHOR
Staff Writer
Recommended for you
Adviser Ratings has explored whether there is a financial benefit to advice firms seeking to have a specialised client base in terms of client assets and fees charged.
Praemium’s Powerwrap platform experienced net outflows of $53 million as advisers continued to transition, bringing total gross outflows from these transitioning advisers to over $700 million.
The wealth management company reported $544 million of inflows from financial advisers in the first quarter of 2024.
Research by two recruiters has revealed whether salary or team culture is more important to financial services professionals when considering a new position.
