EQT creates private wealth services division and appoints new head

Answers to frequently asked SMSF questions: HLB Mann Judd Sydney
June 6, 2012
Strategies needed to manage sequencing risk for investors: Wingate
June 13, 2012

Listed financial services firm Equity Trustees Limited (EQT) has announced the next stage of its restructure with the establishment of a Private Wealth Services division, effective from 1 July 2012.

Listed financial services firm Equity Trustees Limited (EQT) has announced the next stage of its restructure with the establishment of a Private Wealth Services division, effective from 1 July 2012.

The restructure includes the recruitment of Geoff Rimmer to the newly created position of head of private wealth services.  Mr Rimmer will be responsible for the strategy and business development of EQT’s superannuation, trustee, wealth management and aged care units.

He has 20 years’ experience in superannuation, financial planning and insurance, and was most recently chief executive officer of Financial Services Partners.  Mr Rimmer holds a diploma in financial services and is a member of the Financial Planning Association and the Association of Financial Advisers.

Robin Burns, managing director of Equity Trustees, said that the restructure has brought the business’s superannuation, personal estates and trusts, wealth management and philanthropy areas into one business unit, Private Wealth Services.

“This is the latest step in implementing a strategy and structure for EQT that takes advantage of our specific position: our long history as a respected and successful trust company with the values and wide range of services that have relevance to investors today.

“It follows the strengthening, through recent acquisitions, of our superannuation and wealth management areas, and the establishment of the corporate fiduciary and financial services division last year.

“This initiative will enhance EQT’s ability to co-ordinate client service across all disciplines to suit clients’ changing needs and circumstances, with Geoff bringing to EQT an excellent understanding of the breadth of financial needs of Australians and the services that should be delivered to meet them.

“The concept of trust has never been more important in financial services and individual investors and financial advisory firms alike are seeing the attractions of partnerships with businesses that have been offering services such as estate planning and intergenerational wealth transfer over many decades.

“In particular, the support that the trustee company gives to individuals throughout their life is a unique service that other sectors have not yet fully emulated; for example, the ability to provide services to elderly clients, a recent example of which is our acquisition last year of specialist aged care advisory businesses, Tender Living Care and Lifetime Planning.

“Geoff’s appointment puts a focus on our well-established services in superannuation, estate planning, wealth management and philanthropic services, and we will be continuing to expand these services under his leadership,” Mr Burns said.

Mr Rimmer said that EQT has a unique opportunity to provide the type of personal wealth services that are tailor-made to meet the needs of today’s retirees in particular.

“Equity Trustees is in an ideal position as a trusted organisation to offer its services more widely at a time when many Australians are feeling less confident about their financial situation.

“There is a significant opportunity for EQT to further establish itself as a partner to Australians, and their advisers, in all stages of their life, to provide the specific and niche services that many now need.

“It’s also a time of major change in the financial services industry itself, and Equity Trustees can take advantage of this change by offering advisers access to the service support and skill-sets that they will increasing require,” he said.

Equity Trustees is a publicly listed company that provides a range of financial services to corporate and private clients. Its businesses include private client wealth management, funds management, responsible entity appointments, and corporate and personal superannuation. The company manages over $4 billion in its funds management, private client and superannuation businesses and has more than $19 billion under responsible entity administration. Equity Trustees employs over 180 people in its Melbourne, Sydney and Brisbane offices.


For more information please contact:

Robin Burns – Phone: 03 8623 5201

12 June 2012