Tyndall sets up shop in Melbourne
Promina owned Tyndall Investment Management has accelerated its push into the retail space, unveiling plans to open a Melbourne office in January next year.
Tyndall chief executive Michael Good says the company plans to open a Perth office in January and a Brisbane office later this year.
Good said the move comes with support and funding from its parent Promina.
“Promina has made significant funding to our asset management, sales and marketing resources for the long term, as well as to other areas of the Tyndall business,” he said.
“We put the proposal to expand our sales team to the board with a 10 year horizon and they approved it.”
Tyndall head of retail business and marketing Phil Galagher says the sales team is being expanded to 14 with three people in Sydney and further appointments next year.
Galagher will head up the Melbourne operation, a city he returns to having worked at companies such as IOOF and Commonwealth Funds Management before joining Tyndall in 2000.
“The Melbourne office will be staffed by myself and three other people and will be a pure sales and marketing operation,” he said.
“We are recruiting the business development team in Melbourne at present.”
Galagher said the philosophy behind opening a Melbourne office is that it is the better way to service the market rather than form an interstate office.
“This is a full commitment to the Melbourne market and we will be looking at getting more independent advisers to use Tyndall products,” he said.
“We will be looking to get on adviser’s approved lists.”
Recommended for you
The financial advice industry has enjoyed another week of strong new entrant numbers, totalling nearly 40 for the past fortnight, thanks to the latest exam passes.
Momentum Media’s wealth publishing network – comprising InvestorDaily, ifa, SMSF Adviser, Money Management, and Super Review – is proud to launch the annual Australian Wealth Management Awards.
Investment information firm Equity Story has signed a binding heads of agreement to acquire South Australian financial advisory and stockbroker Baker Young for $4.2 million.
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
