Former Genesys Wealth Advisers (Genesys) National Advisory Council (NAC) chairman Andy Murdock will join Fortnum Financial Advisers (Fortnum), InvestorDaily has learned.
Murdock is the second NAC member to leave Genesys for the rival dealer group, following Sandy Dunshea’s departure earlier in the year.
On Friday Genesys announced that NAC members had voted in new chairman, Rob Adams, following Murdock’s recent resignation from the council.
Genesys said Adams would also continue to represent Victoria and Tasmania as a NAC state representative on top of his responsibilities as chairman.
In its communications Genesys did not disclose that the Adelaide based member firm, Ora Financial Strategies, lead by Murdock and co principal Domenic Schiafone, had resigned from the group.
The practice is the ninth Genesys firm to join Fortnum since March this year, with 12 practices overall now on board at Fortnum.
Genesys said Adams, who had taken up the position of NAC chairman had been with Genesys since 1997 and was one of four principals within its Tasmanian-based member firm, Collins SBA.
In March this year, Fortnum said it hoped to have 15 practices on board by the end of December this year.
