Wilson HTM merges divisions
WilsonHTMhas merged its two financial advisory divisions bringing together the group’s 90 financial planners and brokers under one structure.
As part of the move, the previous director of wealth management within the group, Tim Samway, who was responsible for advisory services, has moved across to the group’s asset management division as director of distribution, with head of private clients Tony McCarthy taking over from Samway.
Under the previous structure Wilson HTM held planners under its separate wealth management and private clients divisions, with the two populated mainly by financial planners and brokers respectively.
However, as part of the group’s push to move its brokers into financial planning, Samway says Wilson HTM started a separate advisory division to create the appropriate structures outside the broking business. That having been completed, the group began merging the two arms two weeks ago with the process still underway.
Despite the merging of the two advisory arms, Samway says that not all the brokers will make the move towards becoming financial planners but rather they would work alongside advisers in many cases.
Wilson HTM Investment Group is made up of three groups focusing on asset management, corporate finance and financial planning.
The group made headlines earlier this year when the asset management division purchased its counterpart at BNP Paribas, which boosted its funds under management to more than $800 million.
After the deal was settled in mid October, the group indicated it was considering a number of other acquisitions but has yet to make any further announcements.
AUTHOR
Jason Spits
Recommended for you
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
