A number of financial advisers had exited the Dixon Advisory network following a shift in demand from clients, the company’s managing director and chief operating officer said yesterday.
“A couple of advisers have left in recent times,” Chris Brown told InvestorDaily.
“Where that has come from is really a change in demand for services from our clients. Year-on-year we’ve still had headcount growth in every division, so it is not a business difficulty in any way.”
Brown said he could not comment on the exact number of advisers who had exited, but Dixon Advisory had experienced an increase in the total number of advisers over that same period.
“I don’t think [we will have more] people exit,” he said.
“We’re well positioned with staffing levels to deliver the service we need to clients. Every year our client base has grown strongly so I would hope we would continue to do so, hence grow on a headcount basis.”
The financial services company had noted an increase in demand for the investment side of its business rather than the strategy side, he said.
Clients now wanted to spend more time talking about their investments and understanding their portfolio, he said.
As well as losing advisers, Dixon Advisory had also shut its office in Bondi Junction in Sydney, he said.
He said that since the company secured another floor at its head office in Sydney, the smaller Bondi Junction office space was no longer needed.
“We decided that we’ve got ample space here to cater for client needs so we didn’t renew the small satellite office in Bondi,” he said.
“From my perspective there hasn’t been a material change in what is happening and we continue to move forward.”
