Sydney-based practice N&B Services and Adelaide-based practice Mark Ambrose Financial Services will soon leave Genesys Wealth Advisers (Genesys) to join dealer group Fortnum Financial Advisers (Fortnum), InvestorDaily has learned.
Up until now, the names of the two Genesys firms were unknown. N&B Services is led by Noelene Judd-Watson and Mark Ambrose Financial Services is led by Mark Ambrose.
Other Genesys firms to be recruited by Fortnum to date include 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.
Earlier this week, Brisbane-based practice Neil Macdonald Insurance Planning, led by Neil Macdonald, announced it would also join Fortnum in due course.
Fortnum has so far recruited eight firms, including six that had resigned from Genesys and two that were external from Genesys, Fortnum executive director Ray Miles said.
The dealer group was also in talks with a number of firms about joining Fortnum from other large dealer groups as well as from Genesys, and expected to announce further appointments in due course, he said.
In March this year, Fortnum announced that it hoped to have 15 practices on board by the end of the 2010 calendar year and that Fortnum would be looking to recruit practices right across Australia.
