BT Financial-owned Magnitude Financial Planning has announced the seven latest offices to join its network – and push its funds under advice (FUA) to $1 billion.
The new Magnitude Private Wealth practices are in Victoria, New South Wales and Queensland. They are Alan McCurry, Bernard O’Conner and Anthony Kapetonovic at Lonsdale Street, Melbourne; Chris Williams and Vicky Kehely at the Gold Coast branch; Andrew Geddes at the Sunshine Coast; Brent Kelly in Cairns; James Wortley in Mackay; Stephen Holt on the NSW central coast; and in Townsville, Steve Jenkosky and Dennis DiBartolo. Magnitude has 14 offices and 29 advisers across Queensland, NSW, Victoria, and Western Australia.
“We have strong metropolitan and regional representation as our model is focused on particular practice profiles rather than particular locations,” Magnitude Financial Planning chief executive officer Mark Spiers said.
“Working with aspirational practices with our focused and purpose built systems and tools enables Magnitude to provide and deliver a strong proposition.
“The practices average around $100 million of FUA and all are motivated to significantly increase this to grow revenues but at a greater rate to their costs.” Three new practices are expected to bring an additional $500 million in FUA in the next few months.
WB Financial hires Sydney planner
National dealer group WB Financial Management (WBFM) has hired a new planner in one of its Sydney-based practices.
Brent Lynch has joined Paul Carroll’s office in St Leonards as an authorised representative after spending the past six months with HSBC in its stockbroking and margin lending department.
Prior to that, Lynch combined his knowledge of financial markets with customer service skills in a stockbroking career with jobs at a number of firms, including Wilson HTM in Queensland, and Cazenove in the United Kingdom. Lynch said he joined WBFM because it was a company that struck the right balance.
“WB Financial Management is big enough to adhere to global best practices yet small enough to take a personal stake in the success of its clients, many of whom are from families and younger groups looking to improve their financial situation,” he said.
“I’m looking forward to working closely with people from every stage of life to support them in achieving their lifestyle goals.”
Lynch has a commerce degree majoring in finance and has nearly finished a graduate diploma in financial planning. WBFM services clients through 18 offices across Australia and was the first independently-owned Australian financial services licence in the Australian financial planning industry to achieve quality assurance accreditation.
