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Non-aligned advice firm appoints head of Melbourne office

Non-aligned Providence Wealth has appointed James Smith to the dual roles of senior investment adviser and head of the firm's Melbourne office.

Mr Smith will be responsible for the company's service to Victorian clients as well as the expansion of the business in the state, Providence said in a statement.

He joins the firm with more than 20 years' experience in the investment market, with his most recent position being deputy head of domestic sales and director of institutional sales for CIMB Securities. Prior to that, Mr Smith was the director of Melbourne sales for RBS and ABN AMRO, and an associate director at Deutsche Bank.

Providence's funds under management have grown by 122 per cent since 2012, and the firm now manages about $1 billion for individuals, families and not-for-profit organisations, the statement said.

"At Providence, we take a boutique approach to client relationships, and the addition of such a well-regarded local adviser as James demonstrates our commitment to our Victorian clients," said Providence managing director Grant Patterson.

"James shares our belief in the separation between advice and product, while delivering the highest standard of service. We are delighted to have him apply his institutional investment banking expertise into wealth advisory, for the benefit of our clients."