Shaw Stockbroking extends into financial advice
As part of a three-year strategy to extend into providing holistic financial advice services, Shaw Stockbroking has rebranded, changing its company name, and made a number of key hires.
Having rebranded as Shaw and Partners and hired former Macquarie Private wealth chief executive, Earl Evans, in February 2015, chairman Paul Masi said the move represents a part of the company's expansion into the financial advice industry.
“Our new head of private wealth, Earl Evans, has already signed 15 quality practitioners during the past three months alone and more are in the pipeline,” Mr Masi said.
“This high number of advisers is validation that more and more advisers from other practices, across Australia, recognise the benefits of being part of Shaw and Partners.
“We are also very close to appointing a new head of our institutional business,” he said.
Mr Masi added there will be considerable attention paid to minimising conflicts of interest within the advice business and the firm's teams will be focused on providing holistic and non-aligned financial services.
“Our strong compliance regime and our cautious approach to organisational growth means we have not seen some of the issues being experienced across the rest of the industry," he said.
“Our teams are non-aligned and do not push products. We have a business model that aims to minimise any conflicts of interest. This sets down a solid base for our ongoing and successful partnership with our teams and clients,” Mr Masi said.
Viridian vows independence after Westpac exit
Viridian Financial Group has vowed to maintain its independence from Westpac, wi...
CBA could retain advice business: Morningstar
A longer-term revision of the merits behind the Commonwealth Bank’s demerger o...
Class action against former AFSL finishes
Around $1.5 million has been paid to about 200 investors in one of multiple clas...