AFS board backs Daly
The board of Australian Financial Services Group (AFS Group) has backed the company's chief executive, Peter Daly, in the face of reports of adverse comments attributed to a former board member.
In a message to AFS and Salisbury Group principals, AFS chairman Barry Stephen said the board disapproved of the comments related to Daly and described them as a "filtered and subjective view of the past" which "contain numerous material inaccuracies".
"The Board totally supports Peter Daly and believes he is the correct person to lead the organisation and commends him on the professional way in which he has dealt with these personal attacks," Stephen's message.
"The Board is equally committed to the growth and success of the Salisbury Group and has no intention of consolidating practices nor of disposing of anything or anybody," his message said.
AUTHOR
Mike Taylor
Recommended for you
Insignia Financial has issued a statement to the ASX regarding a potential bid from a third global private equity business to acquire the firm.
More than 30 advisers fell off the FAR during the Christmas and New Year period, according to Wealth Data, with half of these coming from licensee giant Entireti.
With next-generation heirs unlikely to retain their family’s financial advisers after receiving an inheritance, Capgemini has explored how firms can work with younger generations to maintain a relationship.
The use of technology and data analytics will be a way for advice firms to grow in 2025, according to Adviser Ratings, with those who are using it successfully reporting 10 per cent higher profit margins.
