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Ord Minnett announces Perth office launch

Ord Minnett has announced its expansion into Western Australia with the launch of its first Perth office.

After acquiring EL & C Baillieu in November 2020, the wealth management group said it was the combination of both businesses that strengthened its Western Australian attachment.

"The two businesses significantly strengthened Ords' presence and will provide the foundation of a long and successful association with West Australians. "

Ord Minnet state manager for Queensland and Western Australia David Lane further attributed the move to the state's economic growth.

"As the fastest-growing state over the last two years and one of top performing economies in the world the economic fundamentals look excellent," he explained.

"With an unemployment rate of 2.9% (the lowest across all states), there are a significant number of West Australians who require quality financial advice. We are excited about being able to provide this advice."

Its chief executive Karl Morris added the states quick growth saw a demand for wealth managers.

"Western Australia deserves greater coverage from wealth management firms, we thought this market was underserviced, so we have employed some great people given the potential for growth we see in the state," he said.

Ord Minnett chair Warwick Smith said he had extensive business interest in the state.

"Being chair of the advisory board of Australian capital equity, with interests in Seven Group Holdings, Seven West Media, Coates Hire and WesTrac," he said.

The Australian wealth management group, founded 71 years ago, provides a range of services including stockbroking, financial planning including SMSF, funds management, investment banking, and portfolio service.

Its head of private wealth George Deva said the launch is a commitment to Western Australians.

"The official launch of the Ord Minnett Perth office signals our commitment to provide holistic, tailored advice to West Australians for generations to come," he said.

"Ords has a long history of assisting our clients build and manage their wealth, and our financial advisers in our Perth office are experienced and well qualified to continue this tradition."

In addition to its existing Perth team, the firm intends to expand through the hire of financial advisers.

Read more: Ord MinnetWestern AustraliaC BaillieuDavid LaneGeorge DevaKarl MorrisOrd Minnett Perth