Fiducian hires new wealth management head

Fiducian Portfolio Services(FPS) has unveiled its new head of wealth management, former St George Bank staffer Mark Schroeder, who joins this week with a mandate of improving services to franchisees.

Schroeder, who also has a directive to expand Fiducian’s penetration in a range of financial services business areas, fills the gap left by Paul Barrett, who left in late February to join Commonwealth Bank owned-dealer groupFinancial Wisdom.

“The focus now is really on improving the service to franchisees,” Schroeder says, adding that the infrastructure and technology recently acquired by Fiducian will assist in achieving the group’s mandate.

At Fiducian, Schroeder will be charged with growing the wealth management business and focusing on uncovering opportunities with those advisers and dealer groups looking to break away and start their own operation.

Heading up a team of four, Schroeder will report to Fiducian’s managing director, Indy Singh.

Singh says the appointment of Schroeder can be attributed to his successful track record of business building, highlighting Schroeder’s involvement as chief operations officer with boutique dealer groupTynan MacKenzie.

Schroeder has also held strategy positions with Computershare, but most recently has been employed in the wealth management business of St George Bank, working as a regional manager for the northern and CBD business areas of New South Wales.

His appointment follows the group’s announcement in November to offer its own range of funds to other wrap account providers as well as information support systems to external advisers.