Two Centric Wealth advisers have joined the Brisbane office of non-institutionally aligned dealer group Fitzpatricks Private Wealth.
James Hand and John Rees, formerly of Centric Wealth, have joined Fitzpatricks as senior financial planners in the dealer group's Brisbane office.
Commenting on his decision to move to Fitzpatricks Private Wealth, Mr Hand said the dealer group's interests aligned with that of his own.
"After some 25 years, operating in the wealth advice sector under different business models has shown me the benefits of aligned interest – both with the client and [with] the philosophical 'client centric' support of the overarching licensee," he said.
"Fitzpatricks offers me the best of both these worlds.
"The business offers a privately-owned self-employed structure with very high attention to the detailed needs of higher-net-worth clients and successful families. This in turn attracts the right 'type' of adviser with shared values and focus," Mr Hand said.
Meanwhile, Mr Rees said he was drawn in by the group's "fee-for-service model, adviser and client support services and working with like-minded advisers".
"I relish the opportunity to join a client-focused business with an industry leader. I was impressed with the advice-centred approach, professionalism and support of management to build a sustainable business knowing that the interest of my clients will always come first," he said.
Fitzpatricks chief executive John Woodley said the dealer group is "really pleased to be in a position to offer new pathways to advisers" such as Mr Hand and Mr Rees.
"Each has made a separate decision to seek a better operating model for themselves and their clients, so we are delighted to be their destination of choice in that regard," he said.
The regulator has also banned the director of the firm linked to the Mayfair 101 Group from controlling a financial services entity.
The big four bank has confirmed the move today.
Joe Longo has addressed ongoing concerns by the industry.
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