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
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
Australian licensees are expected to make greater use of custom model portfolios for their clients, according to State Street Investment Management, following in the footsteps of US peers.
Adviser Ratings has argued that it’s time for more advisers to utilise digital engagement tools available to them as a disconnect grows between consumers seeking advice from finfluencers and from professionals.
