Elders names new state practice manager

In a statement, Elders said that John McCormack, who has been apppointed to the role, has a background in business coaching, strategic consulting and the management of advice teams. He also founded his own financial advice business.

Mr McCormack was previously manager, advice solutions at ANZ Private and an advice manager at Perpetual.

His appointment comes on the back of the hiring of Tony Beaven as Elders' new chief executive earlier this year, the statement said.

Mr Beaven said the addition of Mr McCormack is indicative of significant change occurring in the firm's financial planning business.

"John's appointment to state practice manager is a strategic decision that will contribute to the transformational changes happening across Elders," Mr Beaven said.

"With extensive knowledge of the industry, John has a proven history of building business around client-oriented financial services."

Mr McCormack said he is excited about the opportunity.

"My challenge will involve making sure that word is spread by our current adviser networks about the extensive referral opportunities available that truly add value to our clients," he said.

"The Elders brand and history is iconic, and combining this with the innovative changes taking place across our business make it a really exciting time to be coming on board."