These promotions form part of Shadforth’s plan to double in size by 2030.
The eight new appointments – Tom Hayes, Caleb Smith, Aurora Walker, John Ritzau, Ben Nicholls, James Eason, Alasdair Edwards and Matthew White – bring the total number of Shadforth private wealth advisers to 103.
Shadforth chief executive Terry Dillon said the appointments “reflect the strength of our internal pipeline, our long-standing commitment to succession planning and our focus on developing our people and promoting from within wherever possible.”
He added: “Shadforth has seen strong demand for financial advice and record new client growth, which has driven the need to continue expanding our adviser capacity.
“Supporting the next generation of advisers is an important part of how we grow. It allows us to scale the business while ensuring clients continue to receive high quality, consistent advice.”
As Dillon told ifa in August last year, Shadforth’s aim is to double the number of clients it serves – 10,000 at the time – by the end of the decade. He said this could only be achieved by “creating capacity for our advisers,” both via appointments like the above and the adoption of new technologies, including AI.
He also indicated that Shadforth would need to look beyond its traditionally high-net-worth client base in order to achieve its ambitious growth plans.
“There’s a financial advice gap in Australia [and] we’re constantly exploring ways to free up our advisers’ time to be able to service more Australians.”
Since Dillon made those comments, Shadforth’s parent company, Insignia, was de-listed from the ASX following its acquisition by New York-based private equity firm CC Capital.
Back in April, CC Capital senior managing director Chinh Chu expressed his support for Insignia’s “Vision 2030” strategy (which informs Shadforth’s growth ambitions), saying that CC Capital is committed to providing the capital and operational expertise needed to accelerate the transformation and enable Insignia to better support members.
“Australia’s world-class superannuation system and Insignia’s scale, rich heritage and brands, including MLC, have long made the business and industry compelling to CC Capital and we look forward to supporting Insignia in its next phase of growth,” he added.
