Dealer group RetireInvest (RI) continues to deny rumours it is specifically trying to lure advisers from Genesys Wealth Advisers, despite new evidence to the contrary.
In documents obtained by InvestorDaily this week, an unnamed Genesys adviser said RI chief executive Paul Campbell had either been misquoted or had “issues with his memory and the facts”.
“The rumours are true,” the unnamed adviser said.
“They [RI] are very much going after Genesys advisers and many of us have been approached.”
Contained in the documents provided to InvestorDaily was a 20-page discussion paper dated 17 March 2009 on the RI offer to advisers.
Aside from containing the ING-owned dealer group’s vision, adviser satisfaction survey results, a list of preferred platforms, branding and pricing details, it included a two-page comparison between RI and Genesys.
The pages listed what both dealer groups offered in terms of dealer splits, fees and shelf space rebate.
“It’s not that we’re not targeting Genesys advisers, we’re just not specifically targeting Genesys advisers. Yes we’re talking to people from that dealer group but we’re also talking to advisers from a number of other dealer groups as well,” Campbell told InvestorDaily.
When asked about the comparison between RI and Genesys dealer groups in the confidential discussion paper, he said: “When we talk to an adviser we will provide comparisons to their existing dealer group if they ask for it.”
Genesys chief executive Greg Kirk said Genesys would not comment on the matter.
Campbell moved from Genesys to take up his position as RI chief executive in February, with his appointment understood to be one of six RI has made from Genesys this year.
