Dealer group Vector Financial Consultants is in discussions with part owner FSP Group about dissolving the Vector brand and bringing the group’s 28 advisers under the FSP banner.
Geoff Rimmer, managing director of FSP Group’s Financial Services Partners dealer, is now also managing director of Vector, resulting in the departure of Peter Fysh, Vector’s acting general manager. Fysh has taken up a new role at Axa Financial Planning. According to Rimmer, no decisions have been made, although Vector and FSP have entered a shared services agreement. “We’re in discussions about bringing Vector under the FSP brand, which is consistent with our strategy to bring all the interests of the FSG Group into one line,” Rimmer said. “Peter was effectively general manager of Vector and he has done a good job. We won’t be replacing him.” Fysh joined FSP in January 2004 after previously being with ING dealer RetireInvest. Vector was established in 2003 with 11 high profile former Godfrey Pembroke advisers, under the guidance of Rob McTaggart.
Since taking over the top job at the $44 billion Funds SA more than a year ago, chief executive John Piteo has ushered in an investment function overhaul and wrapped up an important stage of the fund’s five-year data transformation program. It pledges to recentre around investment performance and more efficient processes, as the “missing piece” has been found in incoming CIO Con Michalakis.
Darcy SongJanuary 10, 2025
