Ord Minnett has confirmed it is the new home for five of the 11 Wilson HTM Investment Group (Wilson) advisers who departed the listed financial services firm last week.
"We are delighted to confirm that five Senior Client Adviser positions have been accepted by former Wilson HTM staff including Joseph Pagliaro, Wren Bligh, Hamish Blanche, James Hunter and Angus Bligh," Ord Minnett chief executive Tim Gunning said.
Gunning said the hires are part of the company's expansion of its equity advisory business.
"Ord Minnett is always on the lookout for high calibre, experienced candidates to add to our national Adviser network," he said.
Asked whether sign on bonuses or other financial incentives were parted with in the negotiations with the Wilson advisers, Gunning declined to comment.
It emerged last week that Macquarie Private Wealth had poached six staff from Wilson's broking and financial planning division.
The staff who quit the listed financial services firm were Peter Day, Carl Daffy, Jarrod Daffy, Richard Nettlefold, Brett Nichols and Ben Rickman.
A Macquarie spokesperson would not comment when asked by InvestorDaily about speculation the recruitment of the Wilson advisers involved sign on payment claims.
On 17 July, Wilson released a statement to the markets advising that 11 client facing personnel were currently serving notice periods prior to their "termination or resignation".
In the statement, Wilson said it would be "premature" to assume that the staff losses would have a "material financial impact".
"Shareholders and clients are assured that all client relationships are being managed for continuity of quality investment and wealth management advice," it said.
In June, the company said it was working through cost reduction measures in response to market conditions.
