MGP hires former Pillar’s CEO
Managed Accounts Holdings Limited (MGP) has announced that former chief executive of superannuation administrator Pillar, Peter Brook, has joined its board.
His appointment was expected to strengthen the board and the company’s ongoing push into the retail super sector over the next year.
Brook joined Pillar Administration in 2013 and was responsible for the overhaul of its operating model, technology and member services.
He departed Pillar in January following Mercer’s acquisition of Pillar.
His career also included executive roles at StatePlus, Alinta Energy, Challenger Financial Services Group, MLC and Grant Thornton.
Managed Accounts’ chairman, Don Sharp, said: “Peter’s vast experience will prove a major asset to Managed Accounts as we embark on a range of new initiatives this year.
“His insights into technology, personal super, and engagement will be particularly valuable.”
Managed Accounts posted a 62.3 per cent lift in pre-tax profit in the December 2016 half year.
The company also said that its retail superannuation solution was being rolled out to 13 licensees, potentially reaching those investors who preferred personal super products rather than self-managed super funds.
AUTHOR
Oksana Patron
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.
