22/05/2020 - 15:15

Ord Minnett back in Perth

22/05/2020 - 15:15


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Stockbroking and wealth management firm Ord Minnett will formally resume its Perth presence next week after an absence of 17 years.

Ord Minnett back in Perth
Craig Ellis leads Ord Minnett's Perth office. Photo: Gabriel Oliveira

Stockbroking and wealth management firm Ord Minnett will formally resume its Perth presence next week after an absence of 17 years.

Ord’s Perth office, led by senior investment adviser Craig Ellis, has set up shop at 108 St Georges Terrace and will open on Monday.

The Sydney-based firm had a strong presence in Perth between 1985 and 2003, as a 50 per cent shareholder in Paterson Ord Minnett.

That firm became Patersons Securities after a management buyout and last year was sold to Canadian broker Canaccord Genuity.

The new Ord Minnett is starting small in Perth, with Mr Ellis joined by experienced financial planner Faye Longmuir and office manager Alister Schulz.

Mr Ellis, who spent the past 17 years with Morgan Stanley Wealth Management, said his goal was to build a team of 10 to 12 people.

“We’re looking for about six like-minded investment advisers, a couple of financial planners, plus someone in corporate and an analyst,” Mr Ellis told Business News.

Mr Ellis said Ord Minnett would have a rigorous and patient approach to wealth management, with a focus on asset allocation and diversification.

“There’s room in this town for someone with a focus on capital preservation with moderate growth and risk management,” he said.

“Manage the risks and the rewards will come.”

Ord Minnett chief executive Karl Morris said much had changed in Perth over the years but the time was right to return.

“The Perth market is mature, the economy is diversified and we have the right people with local knowledge and expertise to provide exceptional investment and strategic financial advice,” he said.

Mr Morris said the current market presented many opportunities, particularly in relation to mergers and acquisitions.

“Market volatility and trade volumes have been extraordinary and we are seeing a lot of activity due to capital raisings across the market," he said. 

“While we haven’t been able to meet with clients in person, we have adapted in the way we are connecting with them, and our recent online updates and webinars have proved to be very popular.”

Mr Ellis said Ord Minnett was Australia’s largest privately owned wealth manager, with over $30 billion in funds under advice and 400 staff across 11 offices (including Perth).

It also has an international research relationship with US-based JP Morgan.

“We look forward to supporting high net worth families and the not for profit sector with sound investment and strategic financial advice," Mr Ellis said.

“We intend to grow over time and continue investing in WA."


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