Matt Fogarty has been announced as the new CEO of the private wealth business, a Fitzpatricks spokesperson has confirmed to InvestorDaily.
Mr Fogarty was formerly general manager of NAB subsidiaries Garvan and MLC Financial Planning before leaving the bank as part of a recent reshuffle of its dealer group leadership, first reported by InvestorDaily sister title ifa in March.
Prior to joining NAB, he ran AMP dealer groups ipac and the collapsed Genesys Wealth Advisers, following a career as a practice management consultant.
InvestorDaily understands that John Woodley, the current CEO of the Fitzpatricks Private Wealth business, will take on a role as executive director focusing on coaching and mentoring the group’s adviser network. John McMurdo will remain group managing director of the broader Fitzpatricks business.
The appointment follows the announcement of three new executives at Fitzpatricks in business development and compliance.
It also follows a major private equity injection from investors Quadrant and Yorkway in 2017.
Commenting on his appointment, Mr Fogarty said: “The chance to lead a quality boutique advice firm like Fitzpatricks Private Wealth is a real professional career opportunity. The Fitzpatricks advice community and culture is highly regarded and I am excited to join at a time of significant growth.”
Fitzpatricks group chief executive John McMurdo said: “This change will allow John Woodley to take on a role as executive director where he will oversee advice across Fitzpatricks Financial Group, with a strategic focus on mentoring and coaching advisers.”
“Our advisers highly value the strategic coaching and mentoring provided by John Woodley. To meet this demand, John will now focus on how we help advisers build great client outcomes for their clients,” Mr McMurdo said.
“Many licensees do not have the resources to invest in high quality coaching and mentoring services, but this is an area we believe we can show industry changing leadership. As a founder and director of our firm, John Woodley’s advice is highly valued and appreciated by advisers,” he said.
