Wealthsure keeps faith in structured products

Dealer group Wealthsure has appointed a “derivatives specialist consultant” to manage the WA-based dealer group’s approved product list for structured products and to train advisers in their use.

Sydney-based Peter Smith, also a portfolio construction consultant with researcher van Eyk, will be “responsible for selecting structured products for inclusion on the approved product list”.

Smith will also be responsible for devising and offering structured product training courses to Wealthsure’s 240 advisers throughout Australia.

“When the markets start to rebound derivatives have their place (on an approved product list), depending on the style of derivatives,” Wealthsure chief executive Darren Pawski said.

Wealthsure has also appointed a new practice manager, based in Victoria, to help grow the group, which is represented in all states and territories except NT, by a “further 50 advisers” over the next 12 months.

Pawski said the appointment of Glen Downey, formerly an estate manager at RetireInvest in WA, would continue the growth rate, which saw 50 advisers added in the past 12 months.

“I believe last year’s appointments make us the largest purely independent dealer group, with no institutional ownership at all, and we are planning to make the same number of appointments over the next 12 months,” he said.