Damen has over 23 years’ experience in the industry with Australian Unity Investments, Colonial First State, JANA Investment Advisers and Insync Funds Management.

Australian Fund Monitors’ Founder and Chief Executive Officer, Chris Gosselin said “We are delighted to have someone of Damen’s calibre join AFM’s team in this senior role. Damen’s experience across the financial services industry, and the managed funds and advice sectors in particular will help grow AFM’s existing business, as well as enabling us to add significant new initiatives.”

Mr Gosselin added that, “the ongoing changes and fragmentation in the financial advice industry is making it difficult for Fund Managers to grow their ‘direct to investor’ client base. At the same time these changes are creating both challenges and opportunities for the new wave of Independent Financial Advisors who have established post the Hayne Royal Commission. AFM’s database of actively managed funds is designed to enable these IFAs and High Net Worth Investors to easily track, compare and analyse the performance and key risk indicators of each fund, or create model portfolios.”

Damen Purcell stated that, “The Hayne Royal Commission has been a catalyst for change for advisers, investors and fund managers. Nearly 80% of advice AFSLs have 5 or less planners and this number is continuing to grow. Similarly, more than 50% of fund managers in the Australian and Global Equities sectors have less than $300m in FUM.”

“Clearly firms are looking to forge an independent path away from the large institutions and the inherent conflicts they bring, and I believe AFM can play a valuable role in helping facilitate this.” said Mr Purcell

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Boyd Lees

Australian Unity Funds Management has appointed Boyd Lees as senior institutional business development manager, based in Sydney and reporting to Damen Purcell, head of distribution at Australian Unity Funds Management.

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Mr Wapshott will be based in Melbourne and will be responsible for overseeing business development in Victoria, South Australia, Western Australia and Tasmania.

Mr Brookes will be based in Sydney and will be responsible for business development in New South Wales.

Damen Purcell, who heads up the AUI distribution team, says Mr Wapshott and Mr Brookes bring with them a wealth of experience in financial services and relationship management, and their appointments will significantly increase the depth and breadth of AUI’s business development capabilities.

Mr Wapshott has relocated from the United Kingdom, where he was most recently business development manager at Morningstar. Prior to that, he was account manager at financial software supplier Financial Express, where he was responsible for the maintenance and growth of the UK client base.

“Charlie’s experience representing Morningstar’s Adviser Workstation, along with its model portfolios and discretionary managed portfolios, has provided him with a good understanding of financial planning practice requirements.

“Similarly, his experience in growing the investment data, software tools and performance analysis business at Financial Express ensures he has an indepth knowledge of financial planner needs,” Mr Purcell says.

Mr Brookes was most recently a financial planner working across a number of branches in Westpac, Eastern Suburbs, a position that he held since 2011. He has also worked for Wealthy and Wise Lifestyle Planning and WPS Financial Group.

“Chad brings 8 years experience as a financial planner and client services manager to the role. His experience working directly and closely with Bank Managers, home finance managers (mortgage brokers) personal bankers and local business bankers at Westpac will assist in his interactions in the business development role.

“His own experience as a financial planner will be invaluable in understanding the needs and further building on AUI’s relationships with financial planners and dealer groups in New South Wales,” Mr Purcell says.

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Damen Purcell, AUI’s head of retail distribution, said the changes will allow AUI to further build and expand its adviser and dealer group relationships at a time when confidence is returning to the retail investment market.

“We are seeing a number of changes in the financial advice community as a result of the growing confidence amongst investors and changes in the way they seek to invest, which means that now is the ideal time to enhance the capabilities and resources we offer customers.

“In addition, the strong growth in certain segments of the market, such as family offices, means there has been a change in the kind of information and structures that some adviser groups require from fund managers, which we are well-placed to provide,” he said.

AUI has created three Key Account Manager roles, promoting Theone Star, Huw O’Grady and Allyce Mitchell to the positions. All three will report to Mr Purcell.

Ms Star, previously national account manager, will be responsible for multi-managers, private banks and brokers, family offices and some NSW-based institutions. She joined AUI in 2005 and has held a number of business development roles in the financial services industry including at Bridges Financial Services and Colonial Margin Lending.

Mr O’Grady will look after major national accounts. He was previously AUI’s regional manager for Victoria, South Australia and Western Australia. Before joining AUI, Mr O’Grady was in business development roles at various firms, including Orchard, Asgard, Ord Minnett and Macquarie Bank in Melbourne, and Morgan Stanley in London.

Ms Mitchell will be responsible for managing AUI’s platform relationships. She has held a number of business development roles at AUI since joining the business in 2009, and was most recently national account support manager.

As a result of these changes, Nick Everitt has been promoted to business development manager VIC/SA/WA. Mr Everitt was previously business development associate, providing sales support to the entire AUI team.

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