Gunning announced chief executive of Ord Minnett
Former Commonwealth Financial Planning (CFP) general manager Tim Gunning has been appointed chief executive of specialist financial services provider Ord Minnett.
The announcement follows yesterday’s revelation that Gunning had resigned from his post at CFP.
Gunning has been replaced at CFP by national manager David Mackay but is not due to begin his role as chief executive until October 1. Gunning will replace the current chief executive and managing director Karl Morris, who will take on the position of executive chairman at Ord Minnett.
Under Gunning’s management will be Ord Minnett’s private wealth, portfolio services, funds management and corporate finance businesses.
Morris said Gunning’s experience in financial services made him the “ideal fit” for Ord Minnett, which was acquired by Australian Wealth Management last year before it merged with IOOF Holdings in April this year.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.