A world where animal spirits are running wild is also one that has temporarily divorced from fundamentals. Experience tells us this often doesn’t end well.
The wealth transfer from Baby Boomers to their offspring, which is in full swing, has got the taxman’s full attention, especially as it pertains to capital gains payments, trust structures and potential breaches of the Tax Act’s Division 7A.
ART commercial lead heads to Insignia
Having effectively driven ART’s post-merger inorganic growth strategy, Dave Woodall – whose departure from the chief commercial officer job was announced earlier this week – will now take on the role of superannuation CEO at Insignia Financial.
The appointment is part of Insignia’s move to restructure its operating model and executive team. The new structure is focussed on four lines of business: asset management, superannuation (master trust), wrap platform and advice.
“I am excited to welcome Mr Woodall to the Insignia Financial team,” said Insignia chief executive Scott Hartley. “His strong leadership experience and ability to drive enterprise focus and results will be an asset to the organisation as we establish our target state Master Trust strategy.”
“Insignia Financial’s Master Trust business is a significant proportion of our business, as well as an area that provides a significant opportunity for profitable growth, and this is an area that Dave has a strong track record in.”
At ART, Woodall made the megafund an attractive final destination for small and corporate funds eyeing the rapid pace of consolidation and regulatory change in Australia’s superannuation system.
“I am delighted to be joining the new Insignia Financial executive team,” Woodall said. “At a time where Australians are increasingly relying on their superannuation to deliver a comfortable retirement, I am looking forward to delivering innovative solutions, with great superannuation and retirement products.
“The organisation has significant potential, and I was attracted to the opportunity to help realise this. I look forward to the challenge and recognise the responsibility that comes with the effective management of people’s retirement outcomes.”
