Ord Minnett plans to increase its financial advice team by more than 20 senior financial planners in the coming year.
The recruitment drive, which began late last week, is part of the financial services group's strategic growth plan, an Ord Minnett chief executive Tim Gunning told InvestorDaily.
On Friday, the company announced the appointment of Commonwealth Financial Planning (Commonwealth FP) executive Derrick Lobban to the position of head of financial planning.
The former Commonwealth FP national manager will be based in Adelaide.
Ord Minnett staffer Michael Arthur, who has been providing support to the advice business prior to Lobban's hire, will continue to offer support from his Sydney base.
When asked whether Ord Minnett plans to make further direct hires from Commonwealth FP, Gunning, the former head of Commonwealth FP, said it was not the company's intention.
"However, this year Ord Minnett is planning to recruit over 20 senior financial planners from across the sector, as part of a strategic initiative to proactively position Ord Minnett for growth nationally," he said.
"While others in the industry are contracting, Ord Minnett is expanding with recruitment of financial planners and senior market and investment analysts."
There is a great opportunity to expand the traditional Ord Minnett offering in the private wealth space, Gunning said.
"We will be actively recruiting experienced senior planners to help us achieve this goal across our national network of offices," he added.
