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Netwealth exec to depart following Fortnum merger

A key executive of Netwealth's advice business is set to depart the company following the merger between its dealer group, Financial Planning Services Australia (FPSA), and Fortnum Financial Advisers.

Netwealth Advice Group head Simon Micallef has confirmed to ifa that following completion of the merger between the company's dealer group and non-aligned licensee Fortnum on 30 October 2015, he will be leaving the company.

"It has been a very, very good three years building up the profile of Netwealth Advice and what we have done here in terms of the operational aspects," Mr Micallef said, noting he had opted to move on.

When asked about his subsequent movements, Mr Micallef said he was primarily focused on ensuring the staff and advisers affected by the merger are well looked after and that the advice group is well positioned for the future.

"I will consider other opportunities as they arise," he said.