Bridges’ Hutchison to drive adviser groups
Bridges chief executive officer Alex Hutchison has been put in charge of all adviser groups in Australian Wealth Management (AWM).
Hutchison will also remain chief executive officer of Bridges, while David Mazengarb will focus on the non-Bridges financial planning brands within AWM.
Justin McLaughlin will continue to be responsible for research and technical services to Bridges, as well as looking after research for other parts of AWM.
Hutchison said the move to create one head of advice within AWM was part of the integration process between the parent and Bridges.
“There are now about 300 planners in the overall group as part of the merger,” he said.
“This now presents an opportunity to take the best of the various parts of the business and integrate them to support the entire group.”
Hutchison said the strong development of research and compliance for Bridges can now be used to support advisers in other groups.
There are no plans, however, to brand the other adviser brands in AWM into Bridges.
“Bridges has an appeal to certain advisers and we want to be able to offer choice of financial planning brands to advisers when they are looking to join us,” he said.
“This move is really about streamlining the back-office offering to our advisers while offering a wide choice to planners who join us.”
The combined funds under advice for AWM, including Bridges, now stands at more than $10 billion, Hutchison said.
AUTHOR
Recommended for you
Under new OAIC guidance, financial advisers who opt to use AI to provide advice have an obligation to demonstrate to clients how they reached their decisions and why that option was taken.
Digital advice platform Otivo chief executive, Paul Feeney, has detailed how its partnership with Colonial First State is expanding the accessibility of advice as it looks to partner with other industry players.
Head of client partnerships at GBST, Ashley Mahadeea, has left the business after seven years to join My Dealer Services, which helps advisers become self-licensed.
A concerted effort by Generation Life to target financial advisers has paid off as the firm reports “exceptional” inflows for the September quarter.
