Fortnum founding director steps down from board

A Fortnum Financial Group founding director has stepped down from the company's board, saying he is focusing his attention on his advice practice and new not-for-profit organisation, The Growth Project.

Larry Fingleson – managing director of one of Fortnum's principal practices, Priority Advisory Group – told ifa yesterday he is in the midst of implementing "radical" changes to his practice.

By leaving his post as non-executive director, Mr Fingleson said he will have more time to ensure those changes are applied. He added that his decision to leave is completely independent from the recent Fortnum-Netwealth merger.

"It's a personal simplification of making sure that I'm focusing as much of my efforts on the bits that I can make the most impact to," he said.

"I think my family, Priority and The Growth Project are the ones that'll demand my time, moving forward. Fortnum's at a stage of its own growth where it could use some new input to be able to take it forward."

Mr Fingleson has been working with consultants Peloton Partners to review the business and identify strategic opportunities to boost adviser productivity and deliver improved client and stakeholder outcomes, he said.

The changes include delivering more communication and education to corporates as well as moving into the "hyper specialisation" of dementia-specific aged care, he said, adding that he expects to complete these changes by June 2017.

"That's where my focus is and needs to be. The business has been around since '87 and I've been in the business for 12 years. We're just at that point of making sure we are around for the next 10, 20, 30 years," he said.

Mr Fingleson also wants to focus on The Growth Project, a not-for-profit organisation that aims to deliver leadership experience and opportunities to small not-for-profits. So far, it has a five-year goal of impacting 100 charities, he said.

"From a personal perspective, I'm passionate about The Growth Project because I want to help small not-for-profit organisations and charities succeed by providing mentoring and leadership development opportunities for key staff and management."

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