BT snaps up Butterworth
BT Financial Group has appointed former DKN chief executive Phil Butterworth to head a new financial planning business unit that will include the established Magnitude brand.
Butterworth will be joined in the new unit by former Lonsdale chief executive Mario Modica, former Lonsdale executive director Kon Costas and former DKN executive director of distribution Andrew Rutter, according to BT.
BT Financial Group general manager of advice Mark Spiers said that the appointments would help BT cement its position in a market that is transforming as a result of a changed regulatory environment and growing demand by consumers for sound financial advice.
"It's a very exciting time and we look forward to welcoming Phil, Mario, Kon and Andrew next year to help build on our heritage of industry leadership, product and service innovation, deep client relationships and quality in everything we do," Spiers said.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.