LJ Collyer, who has been with Allan Gray for 15 years, will take the role of head of adviser distribution, while former Allan Gray state manager Marietta Gibbs will take the role of national account executive. She will take on additional national responsibilities within the distribution team, including strategic distribution initiatives.
“The strong growth in absolute adviser numbers discovering the benefits of our contrarian investment philosophy has meant we have had to restructure our retail distribution team to ensure we can continue to support our advisers and maintain our exceptional service levels to them,” said chief operating officer JD de Lange.
“We are very fortunate to have a strong team with extensive experience across Allan Gray and our broader group as well as the industry as a whole.”
Julian Morrison will continue as head of research relationships and national key accounts, while Chris Hestelow transitions from relationship and research associate to relationship manager.
“These changes will likely lead to further appointments in the team once things settle and we set ourselves up for the next phase of growth in the retail market,” Mr de Lange said.
The Executives that come up with this stuff must enjoy the “piss take” – ASIC spend their time banning some Adviser because s(h)e did not exhaustively canvas the universe, for possible alternatives to the recommended course of action (and/or product) and explain (can this ever be proven?), why the one chosen is in the clients best interests.
Meanwhile we get sales reps being referred to as Advisers, Institutions and Industry Super Funds providing “advice” without having to do anything other than write a brief letter, whack some disclaimers on the bottom and proceed on the basis that unless they hear back from their “client” – that they will proceed with whatever they propose, Dealer Groups running MDA’s and “encouraging” their distribution arm (sorry, I mean Authorised Reps) to recommend it without appropriate disclosure to the client of a possible conflict of interest…….and more.
The whole thing is a shambles and it gets worse everyday.
The old contrarian investment strategy……how is that working out? Consistently underperforming.
Their Aus fund just got smashed!
Lol how can you call yourself an adviser but be apart of a “distribution team”… Just a nice way of saying sales…. Probably felt really smart when they came up with that.
Who called themselves an “adviser” in this story? Every reference was to their clients, the advisers