Commonwealth Financial Planning (CFP) has appointed BT Financial Group’s (BTFG) head of dealer groups, Neil Younger, as its new general manager.
Younger replaces David MacKay, who left CFP in August following a string of internal changes.
“Obviously we are delighted to continue to attract very high-calibre candidates to our business,” Colonial First State advice business general manager Paul Barrett told InvestorDaily.
Younger starts in late October, he said.
CFP had 688 financial advisers and was Australia’s fifth-biggest dealer group as at June 2009, according to the IFA Dealer Group Survey.
Earlier this month, Commonwealth Bank of Australia’s (CBA) Bankwest Financial Advice unit hired Cassandra Hinze as its new head, reporting directly to Barrett.
Hinze was previously at Macquarie Group and also starts her role next month.
CBA acquired Bankwest for $2.1 billion in October 2008.
BTFG in a statement confirmed Younger’s resignation and said that it has appointed Matt Englund as its new head of dealer groups.
Englund most recently headed up the practice management team in advice since the merger between Westpac and St George.
“Warren Dunne, national head of operations, advice has been appointed acting head of practice management while BTFG recruits to fill this position,” BTFG’s general manager of advice Mark Spiers said.
