Macquarie sheds 15 in reshuffle
Nearly half of Macquarie Financial Services’ 80 staff will be either redeployed or retrenched under an extensive restructure of the group’s sales and marketing functions.
"We were looking at different parts of the Macquarie operation and their focus on customer segmentation. We looked if this was aligned with the rest of the business and systematically reviewed how they offered support and services," Maher says.
"We also spent a month looking at models for better customer services and bounced those ideas around and decided some functions were better handled outside the group."
Maher says the changes should be considered in the context of growth for Macquarie which he says has had its wrap service pass $1.1 billion within 18 months.
"We plan to add eight to 12 per cent in terms of staff this year which comes on the back of growth in NZ, our master trust and the recently added retail broking group," Maher says.
He also says the financial services group plans to spend about $80 million over the next 12 months as part of its technology spend in supporting the master trust. These funds will also be used to grow the sales, marketing and business development arm of the group.
AUTHOR
Jason Spits
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
