Chan & Naylor appoints senior adviser

Chan & Naylor partner David Hasib said the appointment of Damian Hearn, who will join the firm as a senior wealth adviser, coincides with its focus on building a “specialist financial advisory service” and is an integral part of its future growth strategy.

“At a time when the independence of financial advice is under the spotlight, it is independent groups who offer a holistic quality value proposition that will likely grow,” Mr Hasib said.

“Meanwhile competition within the industry will increase as it is forced to get its house in order and dealer groups simultaneously ramp up their marketing efforts to accountants, who will have to operate within the confines of new licensing requirements from 2016 onwards,” he said.

Chan & Naylor managing director Ken Raiss said major changes in the federal budget – which come into effect on 1 January 2015 – will impact many older Australians who could benefit from the availability of “broader independent financial advice”.

“This is an opportunity for existing and new clients, particularly those who will be impacted by changes to the assessment of age pension, to better navigate the minefields of coming changes through proactive forward planning and decisive action,” Mr Raiss said.

Prior to joining Chan & Naylor, Mr Hearn was most recently head of the TechConnect team at IOOF, where he was responsible for the provision of technical support to financial advisers.

Mr Hearn also worked at Perpetual Private Clients as a technical services manager providing advice to high net worth investors and has worked at Asgard Wealth Solutions and Colonial First State.