Eleven practices have left Genesys for rival dealer group Fortnum in less than six months.
Genesys Wealth Advisers' (Genesys) Member Firm of the Year for 2008 and 2009, Skinner Macarounas, has confirmed that it will be joining newly formed dealer group Fortnum Financial Advisers (Fortnum) in the coming months.
Fortnum said Skinner Macarounas was the 11th practice from Genesys to sign up with the dealer group since it began recruiting at the end of March this year.
The team, which is located in the Sydney suburb of Double Bay, comprises five advisers including co-principal financial planners Warren Skinner, Steven Macarounas and Phillip Hines.
"We're excited at what Fortnum has to offer our clients, staff and ourselves as principals," a joint statement provided to InvestorDaily from Skinner, Macarounas and Hines said.
"Our time at Genesys has been a great experience and we wish them well for the future."
Prior to Skinner Macarounas, the last Genesys firm to sign with Fortnum was Ora Financial Strategies, led by former Genesys National Advisory Council chairman Andy Murdock.
Fortnum executive director Ray Miles said Fortnum had signed up a total of 13 practices to date and that he expected more firms to come across from both within and outside of Genesys as early as this week.
Miles said while he had hoped in March to have 15 practices on board by the end of December, given that it was early August he was confident the group could exceed that figure.
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