Mr Oliver’s commencement complements a series of strategic appointments by the company throughout 2019. These support Xplore Wealth’s growth as experts in delivering solutions that empower advisers by providing real choice within an environment of heightened regulation and consumer-focused reforms.

Mr Oliver joins Xplore Wealth after five years as Business Development Manager at HUB24 Limited, where he was responsible for building and maintaining strategic relationships with new and current licensees.

“I am excited to commence my new role with Xplore Wealth,” Mr Oliver said. “I am joining during an important period for Xplore, and I look forward to the opportunity ahead in the evolving financial services sector.”

Head of Distribution and Marketing Anne Hamieh said: “Durand brings with him a long record of outstanding business development and key relationship performance, which aligns with our objectives as we continue to focus on enabling our clients to confidently manage, protect and grow their clients’ wealth.

“Durand’s role will be pivotal in promoting the company’s client-centric platform solutions and the benefits of Xplore Wealth’s regulatory expertise to the advice market. We look forward to welcoming Durand to Xplore Wealth.”

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Ms Berry is an accomplished director who has advised public listed entities and privately owned businesses with an emphasis on advice and regulatory expertise.

Her appointment replaces Mr Peter Brook, who formally departs the Board effective today.

Ms Berry currently serves as Director of the Tax Practitioner Board and as Director of the Future2 Foundation.

She was formerly Chair of a subsidiary company of ASX listed company CountPlus Ltd (ASX: CUP), Chair of the Financial Planning Association of Australia and Chair of the Institute of Financial Advisers in New Zealand.

Xplore Chairman Alex Hutchison said the Board welcomes Julie Berry, who, among her many business accolades, was also an Australian representative to the international Financial Planning Standards Board Ltd, the Global Standards Body for financial planners comprising some 32 member countries.

Ms Berry holds a Diploma of Financial Planning, is a life member and fellow of Financial Planning Association of Australia and is a graduate of the Australian Institute of Company Directors.

Following this appointment, the Xplore Wealth Board will have 4 Non-Executive Directors.

“Ms Berry’s experience demonstrates leadership, change management and stakeholder management skills,” said Mr Hutchison.

“These skills together with her broad financial services industry experience that includes financial advice, superannuation, not for profit, government and domestic and overseas regulation, are well regarded and the Board looks forward to her contribution for the mutual benefit of the Xplore Wealth business, its clients and shareholders”.

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Ms Hamieh’s appointment rounds out a number of strategic executive positions now completed by the Company, including the recent announcement of Bruce Hawkins as Chief Financial Officer and Mike Wright as Chief Executive Officer.

Chairman Peter Brook said of Ms Hamieh’s appointment: “Anne’s appointment not only bolsters a revitalised Xplore Wealth executive team but fulfils a critical gap for Xplore Wealth in its sales and relationship efforts and promoting the Company’s underlying capabilities. 

“This appointment in combination with Mike and Bruce is a strong signal of deliberate recalibration by the Board to introduce executive talent comprised of high-performing professionals that we believe have the requisite skills and track record to expand the Xplore Wealth business in line with our strategic growth targets.

“Central to our plans is the Distribution and Marketing function. This requires a deft leadership approach, strong attention to the needs of advisers and their clients, and the capacity to achieve sales results built on quality relationships. 

“We believe Anne ticks all the boxes,” Mr Brook said.

“I am excited to commence my new role with Xplore Wealth,” Ms Hamieh said. “I am joining during a pivotal period for the Company and our discussions regarding the vision and growth ambitions for Xplore Wealth really helped to cement my decision to join. 

“I look forward to meeting the collective challenge ahead and the opportunity to deliver solutions that support the needs of advice businesses and their clients operating under the heightened demands of regulatory scrutiny and community expectations,” Ms Hamieh said. 

Xplore Wealth’s newly appointed CEO Michael Wright said, “Anne was a key member of the highly regarded Vanguard Investments distribution team, driving the national sales strategy and also led the approval and launch of Vanguard Diversified Managed Accounts. 

“Anne has a proven sales and leadership capability and hits the ground running with the Company on 26 August. Her deep industry knowledge and understanding adds great value to the Xplore Wealth team and to the Board’s targeted programme to grow and expand the business. Anne is an excellent addition to the revitalised leadership team and I look forward to working with her and the broader team.”

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Mr Wright joins the Company following an extensive executive search.

Formerly General Manager for Bank Financial Advice at BT, Mr Wright led and implemented the strategic direction of the business to promote growth through the provision of quality, compliant personal advice.

“The opportunity to lead Xplore Wealth Limited during this formative time for the Company is genuinely exciting as the wealth management and financial services sector is transforming, creating growth opportunities”.

“The Board has embarked on a targeted programme to grow and expand Xplore Wealth. I feel my experience and knowledge is well aligned with the qualities that Xplore Wealth requires to lead this expansion.  I also believe a strong business relies on empowering its people to bring to life a clear direction and vision, resulting in tangible benefits which will create positive results for its clients. I am energised to achieve these results by leading the highly capable team at Xplore Wealth, for the mutual benefit of the Xplore Wealth business, its clients and shareholders” said Mr Wright.

XPL has previously reported three corporate acquisitions, a broadening of the products and services that XPL offers and an increase in funds under management from $1 billion at time of listing (June 2014) to $13.5 billion.

Non-Executive Chairman Mr Peter Brook said: “The Board set a new direction and agenda for the Company, starting with the rebrand to ‘Xplore Wealth’ and now the establishment of a fresh, high calibre leadership team. We are excited to welcome Mike as Xplore Wealth’s new CEO to lead this new era and to work together to deliver on the full potential of the Company and its refreshed product offerings.  The Board has set a realistic agenda for growth for the Company and looks forward to the journey ahead.”

Xplore Wealth is also pleased to advise that a further announcement regarding the appointment of the new Head of Distribution and Marketing at Xplore Wealth is imminent.

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Peter Brook

Xplore Wealth Limited (ASX: XPL) has announced the sale of its 50% equity holding in the highly successful, Queensland-based financial planning practice McGregor Wealth Management.

Xplore Wealth has signed a binding agreement to transfer its shareholding back to an entity controlled by Rob McGregor for a consideration of $500,000 plus the repayment by this entity of $225,000 in loan funds.

McGregor Wealth Management is a financial advice business founded by Mr McGregor, one of Australia’s leading financial planning practitioners and industry entrepreneurs, having also co-founded the highly successful GPS Wealth.

The equity sale follows a request by McGregor to buy back the Xplore Wealth shareholding in his firm.

Strategic direction

The separation of advice from investment administration services is aligned to the broader industry trend of de-coupling advice from product and enables Xplore Wealth to focus on its strategic vision to support high quality advice practices with its platform solutions.

“Xplore Wealth was pleased to support Rob establish his business, and we’re proud to see it up and running successfully today. We look forward to continuing to support Rob and his team through our platform solutions”.

“We thank Rob for his professionalism and wish him the very best in his future endeavours as a provider of high-quality financial planning services in Australia,” said Peter Brook, Xplore Wealth Limited Non-Executive Chairman.

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Peter Brook

Xplore Wealth Limited (Xplore Wealth) ASX:XPL has announced the launch of a new wrap platform solution for discretionary investments, superannuation and pension monies.

The wrap delivers enhanced functionality and investment market access to advisers operating across a broad range of business model, client type and super/ non super client needs.

Called Xplore Wrap, the wrap platform is the first to be launched under the recently rebranded Xplore Wealth. Promising a ‘world of investments’ Xplore Wrap offers true multi-currency and multi-market investment access and trading through your broker of choice, among a number of other key benefits for investment, superannuation and pension investors.

Commenting on the product launch, Xplore Wealth Non- Executive Chairman Peter Brook said: “Xplore Wrap was developed partly to help transform client and adviser relationships. It offers advisers a genuine range of investment solutions to meet a choice of client need”.

“For example, advisers can provide clients with the advanced benefit of a consolidated view of investments, access to managed funds, international securities and portfolio rebalancing under a single instruction,” Mr Brook said.

Xplore Wrap delivers access to a range of managed funds, ASX listed equities, international securities on 28 exchanges and a range of cash investment products. It is managed via a single ecosystem with streamlined reporting and can support both adviser and investor-led investment decisions.

“The Xplore Group is delighted to be introducing this new wrap solution, which complements the existing managed discretionary account (MDA) capabilities.It helps to support an evolving market landscape and the more sophisticated client investment need prevalent today,” said Mr Brook.

“Increased transparency in the investment decision-making process, combined with Xplore’s deep industry expertise and administrative track record has enabled us to deliver the first of several planned new products offering a simplified and clear approach that efficiently supports our loyal advisers and their clients.”

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This strong brand was chosen to reflect the company’s universal growth purpose and underline its offering as a leading independent investment platform solution for wealth management professionals.

The brand refresh will be accompanied by a program to familiarise the market and clients on its integrated offering and competitiveness to service advisers and their clients’ needs.

“The directors believe that the business is well placed for growth.  Our renewed focus is on offering advisers and their clients a world of investments within a diverse, but simple platform solution,” said Xplore Wealth Chairman Peter Brook.

Xplore Wealth offers investment platform solutions to meet all business models, including superannuation and non-superannuation, discretionary and non-discretionary, custodial and non-custodial, self-managed or adviser-managed portfolios and international or domestic shares. The firm will also shortly launch both a superannuation and non-superannuation Wrap solution.

“As business and industry challenges become more complex, we seek to offer our customers the opportunity to purpose-build the business solutions that best suit them and their clients, backed by access to a diversity of asset classes, transparent fees and competitive structures and an integrated platform solution,” said Mr Brook.

“The new brand also underpins a consolidation and simplification of our market offering. Xplore Wealth will partner with its clients with agility, decisiveness and flexibility to deliver investment management solutions that fundamentally support their businesses and growth opportunities and their own clients’ needs and aspirations.”

Xplore Wealth recently made several key strategic acquisitions, appointments and management changes which have enabled the business to extend its offering and refocus its efforts on client delivery and shareholder returns.

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