Platform hires former Netwealth distribution head

The former head of distribution for Netwealth has taken on a newly created role with a rival managed accounts and platform provider.

Nick Mitchell has been appointed co-head of distribution at Mason Stevens.

In the new role, Mitchell will be responsible for Mason Stevens' new Melbourne office, working to maximise distribution efforts across Victoria, South Australia, Western Australia and Tasmania.

He will work alongside co-head of distribution Tim Yule to oversee national distribution of Mason Stevens' offering.

As revealed by Financial Standard in July, Mitchell left Netwealth earlier this year for personal reasons, with the platform bringing in Damian Holland to replace him in the lead distribution role in October.

The appointment of Mitchell at Mason Stevens will see managing director Tom Bignill retain his current role but also move into a co-chief investment officer role alongside current chief investment officer Vincent Hua.

The appointment represents an exciting time for the Mason Stevens business, as it looks to continue to deliver the highest standards of service and technology to clients, Bignill said.

Speaking to Financial Standard about the expansion into Melbourne, Bignill said: "Melbourne has always been a big focus for us and today it stands as our largest market, from a geographic point of view."

"For that reason, it is important for us to have a presence there, but even more important to have the right person for the role. We believe we've found that in Nick and he brings an enormous amount of experience."

Bignill said the company has been bolstered by recent market trends, with inflows increasing on the back of adviser migration.

"We're seeing a huge amount of funds under management migrating from the big bank platforms as financial advisers continue to leave those groups," he said.

"We are very happy to be a major beneficiary of that and to have this growth."

Read more: Mason StevensNetwealthDamian HollandNick MitchellTim YuleTom Bignill
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