Business services and licensing group, Entireti has completed the acquisition of AMP Limited’s financial advice businesses, including AMP Financial Planning, Hillross and Charter Financial Planning – currently referred to as NewCo – and unveiled the group’s expanded senior leadership team.
Entireti, which houses Fortnum Private Wealth, Personal Financial Services and NewCo, says it now has around 1,300 financial advisers, 400 businesses and around 180 employees.
The company says under the group’s new structure, the executive leadership team consists of:
- Neil Younger, Group CEO and Managing Director
- Glen Castensen, Group Chief Operating and Financial Officer
- Daniela Mascarello, Executive General Manager, Group Risk
- Matt Lawler, CEO NewCo (AMPFP, Hillross, Charter & Jigsaw)
- Matt Brown, CEO, Fortnum & PFS
- Cassandra Salmon, Executive General Manager, Group Technology
- Simone Munro, Executive General Manager, Group People and Brand
- Nick Hilton, Executive General Manager, Advice Delivery
- John Carnevale, Executive General Manager, Investment Services.
Younger says the group’s large, experienced team and commitment to hitting completion targets “…ensured a smooth transition and minimal disruption to day-to-day operations for businesses coming across while also maintaining high standards of service and support for existing businesses.”
He says across the business there is a sense of excitement and a strong alignment of vision and purpose.
“Our size enables us to deepen our services and solutions for advisers and their clients. At the same time, as a house of brands, we can provide personalised service and support, and preserve and foster the characteristics that make each underlying proposition unique.”
Younger says the group has plans about how to grow together, leveraging its national footprint.
…Our focus is not about being the largest, it’s about increasing our relevance for advisers and their clients…
“Our focus is not about being the largest, it’s about increasing our relevance for advisers and their clients both now and into the future.”
The firm recaps that on August 8, 2024, Entireti, AZ NGA and AMP Limited announced a strategic partnership to provide comprehensive licensing and business services to AMP’s self-employed and self-licensed practices (see: New AMP Partnership ‘Transforming Advice Industry Landscape’).
It says that under the deal, AZ NGA acquired AMP’s minority equity stakes in 16 AMP-aligned firms, and Entireti acquired AMP’s financial advice businesses including AMP Financial Planning, Hillross, Charter Financial Planning and Jigsaw Advice Solutions.
A joint venture entity, 70% owned by Entireti and 30% owned by AMP, was established and tentatively named NewCo to provide licensing and business services to the AMP businesses transitioning to Entireti.
