Elders signs 18th advice practice

Prognosis Wealth Management will be the 18th practice to join Elders under the leadership of Tony Beaven, the licensee announced in a statement.

Its principal, Neil McPherson, is a former fund manager who switched to financial advice, becoming a CFP and joining several dealer groups in the institutional space, including IOOF’s Lonsdale and Suncorp’s now-defunct Guardian business, before settling on Elders.

“I wanted to create an efficient, professional and client service focused wealth management practice that provides a bespoke service to executives, professionals, SME owners and their families,” Mr McPherson said.

“After researching a number of groups before selecting Elders Financial Planning, I decided quickly that EFP was the best fit.”

Elders Victorian state manager John McCormack said Mr McPherson was a welcome addition to the group.