JAMES Doogue, one of the stalwarts of Perth’s financial planning community, is winding down his involvement in the industry.
HOME Financial Planning, a majority-owned subsidiary of HOME Building Society, has agreed to take on the majority of clients from James Doogue Securities.
The acquisition will result in two investment advisers transferring to HOME, lifting its total number of advisers to eight.
Managing director Gary Hasler said HOME Financial Planning now had total assets under management of about $150 million and was one of the largest users of the ASGARD Master Trust in WA.
“We understand our bid in dollar terms was less than other interested parties, but James was more concerned with finding the best fit for his clients”, Mr Hasler said.
Mr Doogue has decided to scale down his practice due to ongoing health problems, for which he will be seeking treatment in the US.
He said his health problems were not critical but were debilitating and had restricted his work capacity over the past couple of years.
Mr Doogue was chairman of practitioners at the Financial Planning Association before its restructure, has served on the FPA board and is currently chairman of the Professional Standards Committee.
