Top left: Daniel Chiew, Ken Tran, Renato Pedretti, Stuart Beattie, Stuart Lamont, Mark Palmer, Sherman Chua, Andrew Foster, Dorab Postmaster, Damien Warner, Karl Laufmann, Owen Clare, Tim Maschler and WA State Manager Davide Bosio. Seated: Marian Johnston, Jenny Rachmat and Rachael Green.

Australia’s leading wealth management firm Shaw and Partners has continued its strong growth with the addition of a number of senior advisory teams from global investment bank Morgan Stanley, as well as a number of senior advisers from Ord Minnett’s Western Australian office.

Shaw and Partners continues to attract some of the most experienced and highly regarded advisers across Australia.

“The best wealth management professionals continue to choose Shaw and Partners as their home to grow their business and service the evolving advice needs of their clients,” Shaw and Partners Private Wealth National Head George Deva said.

“The decision of these high-calibre teams and individuals in WA to join us ratifies Shaw and Partners as the wealth management firm of choice for leading investment advisers in Australia”.

Shaw and Partners WA State Manager Davide Bosio said the company was incredibly proud of its growing team in WA and welcomed the new advisers, who would help it to further build on its great culture and what it could offer clients.

“Our dedication to our team in Perth has led to an additional long-term investment in our business to strengthen our position and presence in the Perth market,” he said.

The changing landscape of the WA stockbroking and wealth management industry has been one of consolidation, which commenced in 2019 when Shaw and Partners acquired the local stockbroker DJ Carmichael.

Over this period, other groups merged their businesses, including the combination of local stockbrokers Euroz and Hartleys.

This is a continuation of a growing trend where skilled advisers are making moves they consider to be in the best interests of their clients as the industry moves away from the old days of stockbrokers buying and selling shares, and towards a world where wealth managers build long-term investment portfolios and strategies to protect and grow long-term, multi-generational clients and their assets.

The advisers recently joining Shaw and Partners from Morgan Stanley include industry heavyweights Stuart Beattie, Mark Palmer, Damien Warner and Andrew Foster, along with their planning team, which includes Jenny Rachmat and Rachael Green.

They have been joined by Renato Pedretti and Tim Maschler who – in addition to a number of highly experienced support staff – see an enormous opportunity to expand their business in the local market.

Previous Ord Minnett advisers Owen Clare and Karl Laufmann also recently moved to Shaw and Partners, along with Daniel Chiew and Stuart Lamont.

In an industry where regulation and changing education requirements have forced many advisers to leave, Shaw and Partners has continued to draw in some of the best industry talent willing and able to provide holistic advice to clients.

“Shaw and Partners has built a national business through a genuine partnership approach with our clients and advisers,” Shaw and Partners Co-CEO Earl Evans said.

“We do our best every day to help our clients achieve their financial objectives, and we have built enormous goodwill through our Shaw and Partners Foundation and charitable endeavours, along with many of our sponsorships, which we are truly passionate about.” The growth of Shaw and Partners has been incredibly strong, with the firm managing more than $35 billion of funds under advice.

“Our comprehensive service offering, strong balance sheet and engaging culture has enabled us to attract some of the best advisers to Shaw and Partners,” Mr Evans said.

“The expansion of the team in Perth to close to 60 investment advisory professionals and support staff has seen us commence a $7 million fit-out investment in a state-of-the-art office at the premium 108 St Georges Terrace building across two floors on levels 46 and 47 respectively.

“This will be consistent in style and quality with our offices across Australia, and will be a first class place for our advisers and their clients to conduct business”.

Mr Evans firmly believes the industry is primed for more consolidation and there will be more high-profile adviser shifts in the near term as the company continues to meet with experienced advisers across Australia, who are wonderful people with long-term client relationships, and a strong record of professionalism and compliance.

“I’ve been in the financial services industry for a long time and there are a raft of positive changes affecting both advisers and their clients,” he said.

“We’ve done a great job of building a business where our clients are serviced by quality advisers, and our culture of giving back makes it an enjoyable place to work and build your career.

“We are incredibly excited about the future of Shaw and Partners both here in WA and across the country.”