Macquarie Private Wealth plans to strengthen its risk advisory practice with the addition of more specialists and product developments in the coming months.
Macquarie Private Wealth national wealth protection head Patrick Dieter, who stepped into the newly-created role earlier this month, said the division's focus was no longer just on insurance but offering the full breadth of wealth protection solutions to clients.
"My team will be working closely with our advisers and their clients during the next few months to bring together a suite of solutions that meets their wealth protection needs," he told InvestorDaily.
"Wealth protection encompasses a wide area of protection advice - personal advice such as life and income protection, group solutions for corporates, business continuation issues, estate equalisation requirements and loan guarantee protection.
"Due to the events of the global financial crisis we have seen a significant increase in the number of our clients who want to engage in wealth protection strategies."
Dieter said hiring additional specialists would be another key area of focus for the division going forward.
"While there are already a number of established wealth protection specialists within Macquarie Private Wealth, as well as financial planners around Australia who provide wealth protection services to clients, we are keen to build on these existing skills," he said.
"We aim to bring in additional specialists to further grow the business and expand our service offering. We believe this is critical to the provision of quality advice, and as a result, to our success."
