Former Associated Planners and Genesys Wealth Advisers chief executive Ray Miles has announced that he will establish a new dealer group.
The new dealer group will be called Fortnum Financial Advisers.
"We will be taking the best parts of the Associated Planners model and adapting it to where we believe the future of advice to be," Miles said.
"We're building a dealer group from scratch that will be majority owned by the principal practices, a financial institution and Fortnum staff.
"At this stage, we will not be releasing further information on our intentions until we launch the group in early 2010."
At this stage, Sue Hunt and Wayne Mitchell have been appointed as the first two staff members. Both were long-term employees of Associated Planners and Genesys in key roles.
Miles said he has purchased the first office that will operate under the dealer group in the New South Wales suburb of Neutral Bay.
