Australia's leading wealth management firm, Shaw and Partners Financial Services, has continued its strong growth with the addition of a number of senior advisory teams from global investment bank Morgan Stanley and a number of senior advisers from the WA office of Ord Minnett.
Shaw and Partners Financial Services, continues to attract some of the most experienced and highly regarded advisers across Australia.
National Head of Private Wealth, George Deva commented: “The best wealth management professionals continue to choose Shaw and Partners as their home, to grow their business and service the evolving advice needs of their clients. The decision of these high calibre teams and individuals in Western Australia to join us ratifies Shaw and Partners as the wealth management firm of choice for leading investment advisers in Australia”.
WA State Manager, Davide Bosio said: “We are incredibly proud of our growing team in WA and welcome the new advisers, who will help us to further build on our great culture and what we can offer clients. Our dedication to our team in Perth has led to an additional long-term investment in our business to strengthen our position and presence in the Perth market”.
The changing landscape of the WA stockbroking and wealth management industry has been one of consolidation which commenced in 2019 when Shaw and Partners acquired the local stockbroker DJ Carmichael. Over that period, other groups have merged their businesses including the combination of local stockbrokers Euroz Limited and Hartleys Limited.
These recent moves are a continuation of a growing trend where great advisers are making moves that they consider to be ‘in the best interests of their clients’ – as the industry moves away from the old days of stockbrokers buying and selling shares and toward a world where wealth managers build long term investment portfolios and strategies to protect and grow long term, multi-generational clients and their assets.
The advisers recently making the move to Shaw and Partners from Morgan Stanley include industry heavyweights Stuart Beattie, Mark Palmer, Damien Warner and Andrew Foster with their planning team including Jenny Rachmat and Rachael Green. They have been joined by Renato Pedretti and Tim Maschler who, along with a number of highly experienced support staff, see an enormous opportunity to expand their business in the local market.
Ex-Ord Minnett advisers Owen Clare and Karl Laufmann also recently made the move to Shaw and Partners along with Daniel Chiew and Stuart Lamont.
In an industry where regulation and changing education requirements has forced many advisers to leave, Shaw and Partners has continued to attract some of the best industry talent willing and able to provide holistic advice to clients.
Allan Zion And Earl Evans
Shaw and Partners Co-CEO Earl Evans said: “Shaw and Partners Financial Services has built a national business through a genuine partnership approach with our clients and advisers. We do our best everyday to help our clients achieve their financial objectives and we have built enormous goodwill through our Foundation and charitable endeavours along with many of our sponsorships that we are truly passionate about!”
The growth of Shaw and Partners has been incredibly strong with the firm managing over $35 billion of funds under advice.
Mr Evans said “Our comprehensive service offering, strong balance sheet and engaging culture has enabled us to attract some of the best advisers to Shaw and Partners and the expansion of the team in Perth to close to 60 investment advisory professionals and support staff has seen us commence a $7 million fit-out investment in a state-of-the-art office at the premium 108 St Georges Terrace building across 2 floors on levels 46 and 47 respectively. This will be consistent in style and quality with our offices across Australia and will be a first class place for our advisers and their clients to conduct business”.
Mr Evans firmly believes that the industry is primed for more consolidation and there will be more high profile adviser moves in the near term as “we continue to meet with great advisers across Australia who we believe are great people with long term client relationships and a strong record of professionalism and compliance”.
Mr Evans continued, “I’ve been in the financial services industry a long time and there are a raft of positive changes affecting both advisers and their clients. We’ve done a great job of building a business where our clients are serviced by quality advisers and our culture of giving back makes it an enjoyable place to work and build your career. We are incredibly excited about the future of Shaw and Partners, both here in WA and across the country!”
