Six Park has appointed senior finance executive Ha-Dieu Ford as Head of Partnerships as the company consolidates its business-to-business (B2B) activities.
Ms Ford, who has more than 20 years’ experience in the financial services sector, has previously worked in senior business development and partnership roles at AustralianSuper, BT Financial Group, Westpac and Mariner Funds Management.
Six Park co-CEO and co-founder Pat Garrett said the team was thrilled to welcome Ms Ford, who brings a unique skill set and experience to help Six Park further accelerate its B2B activities at a critical time.
“More and more adviser groups and wealth management firms are seeking efficient ways to implement digital investment solutions, so the timing of Ms Ford’s appointment is crucial,” said Mr Garrett.
Ms Ford said she was excited about being part of an industry-wide transformation after following Six Park’s development in recent years.
“We’re in the middle of the most significant period of change that Australia’s financial services sector has ever experienced,” she said.
“Robo-advice is an important part of that change. Wealth managers are now understanding that robo-advice complements rather than threatens their business model, and I’m looking forward to helping Six Park’s current and future partners embrace technology to transform their business models and, importantly, provide investment help for the many consumers who are in need of a scaled service.”
Six Park’s Director of Business Development, Ted Richards, will also move into a new position as Head of Distribution in another signal of the company’s continued growth.
Mr Richards said the opportunity for Six Park was clear, particularly as businesses aim to adapt to a post-Banking Royal Commission environment and new FASEA framework during the COVID-19 pandemic.
“We’re seeing an increasing number of advisers and wealth managers accelerating their plans for digital offerings – the cost of doing business is going up and, at a time when more people than ever could benefit from some kind of financial advice, many advisers and wealth businesses are struggling to serve the available market in a cost-effective way,” he said.
“Six Park is perfectly positioned to help these businesses serve the ‘advice gap’ which remains a source of prospective clients.”
Six Park co-CEO Nuvan Aranwela said it was an exciting time for the business.
“Ted has done an exceptional job developing our business, and his new role reflects our increased focus on a new phase of distribution both direct to clients (B2C) and through adviser groups, platforms and other B2B partnerships,” said Six Park co-CEO Nuvan Aranwela.
“The momentum in the transformation of the financial services industry is accelerating, as it must. More Australians are looking to the industry to provide affordable and accessible ways to help them with specific aspects of their finance. In fact, this demand was evident in the number of new day-traders hitting the market in the fast few months – so much so that it triggered warnings from ASIC and the RBA about retail investors entering the market without guidance. Yet people taking aspects of their finances into their own hands will continue if they aren’t offered an alternative solution, particularly when the grandfathering of commissions ends in January next year and financial advisors are forced to re-assess the viability of their client base moving forward. We clearly offer B2B partners – and their clients – a viable solution.”
In response to the increased interest in investing from Australians, Six Park recently reduced its minimum investment threshold to $5,000 and is waiving investment management fees for three months to allow more Australians to take advantage of the current market conditions. The new minimum investment and fee waiver will apply until August 31.