Starting 1 January 2016, Paul Burgon will move from the role of director to managing director, the company said in a statement. The appointment falls in line with Mr Burgon’s experience in private wealth management and at investment houses, including Goldman Sachs, JBWere and Investec Private Bank.
Meanwhile, current managing director and founding partner Robert Lipman will move into the role of executive chairman, in which he will chair the investment committee and have “ultimate responsibility” for the quality of advice and uniformity of approach, the company said.
Mr Lipman is also set to become non-executive chairman by 2020, in line with a business succession plan.
“Internal succession planning is crucial to ensure we maintain the same high standard of service and advice that our clients have come to expect from us over many years,” Mr Lipman said.
“Paul is an outstanding contributor to our business and is a significant shareholder within it. I can’t think of anyone better to lead our vibrant, expert team into the future as we continue to grow.”
Lipman Burgon & Partners advises more than 150 Australians and has over $700 million in funds under advice, the statement said. The business was established in 2000 as the wealth advisory arm of Investec Bank, and was acquired by Mr Lipman and Mr Burgon in 2011.
In addition to the management reshuffle, the company is formalising a mentoring program for its staff to ensure the same “uniformly high standard of research and advice” is received by clients, regardless of which adviser they choose.
“We are a business built around people and we take immense pride in the deep, personal relationships we have forged with our clients over many years,” Mr Burgon said.
“The Lipman Burgon mentoring program is part of our commitment to strengthen our advice and research capability for the benefit of our clients over the long term.”
