Securitor chief denies poaching Genesys planners
|
|
Securitor head Neil Younger has rejected reports that Westpac dealer group Securitor has been actively trying to lure planners away from AXA dealer group Genesys Wealth Advisers.
Younger told Money Management that there was “no truth” to reports that Securitor was offering to waive dealer fees for two years and pay up to 100 per cent of platform rebates in the first year to Genesys planners to join the group.
“There are no two-year free fee deals or anything of that sort in the market to induce people away from Genesys or any other dealer group to join Securitor,” he said.
Younger acknowledged that Securitor is currently talking to planners across the industry, but said there are “certainly no campaigns against Genesys and no special deals targeted at its planners”.
“We have our normal commercial terms, which are a matter of public record, and it is purely on this basis that we’re certainly talking to planners within different groups who are attracted to the Securitor offer.”
RetireInvest chief executive Paul Campbell also declined to comment on sustained media reports that RetireInvest too is trying to lure away Genesys planners.
Campbell, who was contacted by Money Management for comment, was appointed to RetireInvest in February from Genesys, where he was previously an executive.
In July, former Genesys head of life risk Col Fullagar also left Genesys to join the ING-owned RetireInvest dealer group in a similar capacity.
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
