Ord Minnett's new chief executive Tim Gunning will look to expand the firm's direct equity investment advisory business.
"With the growth in self-managed super and post the global financial crisis, investors are looking to have a greater transparency in terms of what their investments are," Gunning said in an interview with InvestorDaily.
"Direct investing, specifically into equities I think, is a growing trend in the Australian retail market which will play out over a number of years."
Gunning, who is currently general manager of Commonwealth Financial Planning (CFP), will take up his new position on 1 October this year.
Although he will need some time to get to know the business better, he said the attraction and retention of talented advisers was a key priority.
"We will certainly be looking to grow the number of advisers," he said.
Gunning was with the Commonwealth Bank of Australia (CBA) for six years and said it was time to move on to new challenges.
"We have achieved a lot here - the business has grown substantially," he said. "I've got a great management team here and it's an opportunity for them to step up." Last Friday, Gunning represented the bank, together with five other executives, at the Parliamentary Joint Committee inquiry into financial products and services.
CBA has appointed CFP national manager David MacKay as acting general manager, while it searches for a candidate to replace Gunning.
