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Cannaccord Genuity names first ever wealth planning head
by Elsa Buchanan on Oct 14, 2013 at 07:30
Canaccord Genuity Wealth Management (CGWM) has appointed Chris Albert as head of wealth planning for its UK business, in a newly-created role.
Albert (pictured), who has 22 years’ experience, previously headed the CGWM’s 360° Service, an integrated approach to wealth management including advice, investment management, tax and financial planning.
He will continue with these responsibilities in addition to overseeing the growth of CGWM’s wealth planning business in the UK, with all front office wealth planning staff now reporting to him.
Albert’s appointment ties into Canaccord’s integration of its wealth planning with other services such as advisory and investment.
Speaking to Wealth Manager earlier this month, chief executive Neil Darke (pictured) pointed to a major focus on financial planning, which he said regulatory pressures and suitability issues are forcing wealth managers to consider.
‘To deal with clients properly, you now need to offer all three disciplines [financial planning, advisory and investment management],’ he said.
Commenting on Albert’s appointment, Stephen Massey, CGWM's head of UK wealth said the group’s objectives were to ‘broaden the scope of services […] and integrate the investment management and financial planning capabilities more closely, with wealth planning as a key component of these initiatives.’
Albert added he saw ‘considerable scope’ to extend the group’s planning services, from succession planning to IHT portfolios capabilities across the wealth management division.
The hire comes fresh on the heels of the firm's intergration of the Eden Financial’s wealth business, which it snapped up last September, placing it under the Canaccord Wealth umbrella in May.
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