Three more practices from Genesys Wealth Advisers have joined dealer group Fortnum Financial Advisers.
“We now have eight firms under Fortnum, including six that have resigned from Genesys and two that are external from Genesys,” Fortnum executive director Ray Miles said.
Of those firms recruited from Genesys, Brisbane-based practice Neil Macdonald Insurance Planning was the most recent to come across.
Practice principal Neil Macdonald said he was in the process of rebranding the firm to Fairway Financial Advice and that the team, which comprised six staff, would officially start with Fortnum in early August.
“I’m looking forward to the new culture and opportunities for equity,” Macdonald said.
“I also like that it is a dealer group run by advisers rather than a corporate entity.”
Miles said he was pleased Macdonald and his team were joining the group.
“Neil has great potential and lots of ideas, and he is just an all-round nice bloke,” he said.
“There are a lot of things we can do with this business and I know Neil is very keen to grow it.”
He said the other two firms that had been recruited from Genesys would remain unnamed until they officially began operating under the new dealer group.
Fortnum recruited its first practice from Genesys in March and two more in April, he said.
Those firms are Adelaide-based Draper Financial Services, led by Mark Draper; Sydney-based Sidney Lloyd, led by Guy Carrington; and Dubbo-based Visionplan Management, led by former Genesys national advisory council member Sandy Dunshea.
Miles said in March that he hoped to have 15 practices on board by the end of 2010 and that Fortnum would be looking to recruit practices right across Australia.
