According to its website, Sydney-based financial advice firm Pride Advice – an authorised representative of Fortnum Private Wealth – has “joined forces” with Henderson Maxwell.
A spokesperson for Pride Advice confirmed to ifa that the two firms – both of which are owned by the Italian fund manager-backed aggregator AZ NGA – are merging business operations.
Mr Henderson, Henderson Maxwell’s chief executive, underwent tense cross-examination during the second round of hearings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry over a complaint by his former client Donna McKenna, a Fair Work commissioner.
AZ NGA acquired a 51 per cent stake in Henderson Maxwell in December 2017, prior to Mr Henderson’s royal commission testimony.
“This is an exciting new chapter for our business,” Mr Henderson said at that time.
“We are looking forward to being part of a broader network that will enable further growth and innovation.”
According to ASIC Pride is with Fortnum from 4 June 2018
Pride is part of RI Advice not Fortum?
How funny irony not lost on me either ‘how dare you hide behind being anonymous’ claims anonymous
FPA free pass….wink wink, nod nod. FPA free pass, wink wink.
No problem here, move on please. FPA authorised.
FPA courses paid for. FPA holier than though club.
FPA free pass…..wink wink.
Come do what you like…..FPA free pass.
Exactly. In the FPA magazine is an article from Dante De Gori talking about the RC. No mention of the FPA behaviour, no mention of an apology, in fact he blamed the industry saying we’ve got work to do. FPA members a clearly complicit in this behaviour. Shame on FPA members.
Exactly. Shame on the FPA. What adviser would want their reputation questioned by being a member of this ridiculous industry body.
It’s no wonder so many advisers wanting to leave and join the AFA.
FPA days will be numbered.
Just like the AMP board members were taken out the woodshed and shot, in time FPA aligned advisers will be also. If not by the industry, certainly by their clients.
Good luck continuing as an FPA member, you will need it.
join the AFA? the same AFA that supports grandfathered commissions indefinitely?
Yes – the same AFA that supports the fair treatment of Advisers’ legal rights.
Yes, about those “legal rights”. A real BBQ stopper that one. Let’s see what the RC comes up with.
At least the AFA disclose clearly they have a relationship with the Banks. It’s on their website. The FPA hides payments from the banks via a professional partner program and bundles up the fees as “member fees”. The same association that thinks the CFP course is “like” and AQF9 level of study is the same thing.
A new low for the non aligned advice community….as Senator Hinch would say….Shame Shame Shame!
I recall a few years ago that I had a series of meetings with Ray Miles when he was trying to court us to join Fortnum. As part of his pitch, he categorically declared that Fortnum had a “no d*ckhead” policy and vowed that policy would never change while ever his backside pointed to the ground. So now Fortnum will allow this cheating, lying parasite into their ranks. Excellent!
Ray, you are usually quite vocal and strident in your views of financial planners and the industry at large. You don’t mind telling people what you think if them, usually (correctly) pointing out their inadequacies and stupidity. Care to make a comment on this ridiculous decision and how it may impact upon your no d*ckhead policy? Or have you finally succumbed to chasing the money at any cost?
I don’t think Sam Henderson is actually part of the deal. Its just his business.
hmmm….no EU or Banning for impersonating clients!!!???; i.e. fraud
Untouchable!
You are kidding still in business??? How How How who is corrupt!!!
Old boys club – Barrett & Younger mmmmm………… the perfect team oh at CBA then ANZ !! Wink wink nod nod !!
Wow what a gutless comment. Surely something that spineless requires a name attributed to it?
says anon…..
Fortnum won’t even consider CFP/degree qualified advisers with no history of client complaints due to them previously being licensed through Dover. Now they jump into bed with scandal ridden Henderson Maxwell.. go figure!!!!
Money and fees fix everything. Just ask the FPA