TPT Wealth to build distribution team under new general manager September 2021

Alan+logan

New general manager at MyState’s wealth management business TPT Wealth, Alan Logan, responded to some questions from Industry Moves about how he plans to grow the group’s distribution team and strengthen its ESG solutions.

What attracted you to MyState/TPT Wealth?

The Group’s commitment to digitisation and transformation of its platforms which has delivered a solid foundation on which to grow. The quality of the investment management team and the willingness to commit further investment to developing distribution capability was also compelling. Risk averse investors looking for regular, reliable income should really be speaking with us.

How do you plan to grow TPT Wealth's funds under management?

We have over $1.1 billion in funds under management and are looking to grow that strongly in wholesale markets initially, followed by retail. Key customer groups where our investment proposition is really resonating strongly include for-purpose firms such as non-government schools, aged care firms, archdioceses and not-for-profit organisations. We are building our distribution team and have developed a strong digital capability. We are looking to deliver a digital and intuitive customer experience by providing easy access to wealth services. We also recently received our first independently rated, high investment grade four star ‘superior’ rating from SQM Research for the TPT Fixed Term Fund, and we are pursuing new ratings for the Long Term Fund and Select Mortgage Fund as we get ready to enter new markets.

What are some of the biggest challenges facing anyone in wealth management today?

Post-Covid 19, the wealth management industry will face many new challenges, including how to differentiate your product offering in a crowded marketplace, how to clearly articulate the value of your proposition and how to build scalability into everything you do. Wealth management in Australia is a high growth, highly competitive and exciting place to be.

How important is ESG in your new role?

We also know that being a responsible business underpins our long-term success. Across Australia and the world, attitudes and expectations of corporate citizenship have fundamentally changed. The interest in ESG and sustainable assets among wholesale and retail investors in Australia shows no signs of abating, and we at TPT Wealth are committed to play our role in supporting that aim. ESG considerations underpin everything we do at MyState and I’ll be looking closely at how TPT Wealth can strengthen our solutions in this area.

Can you tell us a little about your philanthropic work and why it is so important to you?

I’ve always been interested in environmental and social causes and am incredibly lucky to serve on the board of the Prior Family Foundation and most recently the Royal Botanic Gardens Foundation in Melbourne. If we’ve learned one thing during a global pandemic, it’s how incredibly connected and interwoven life on our planet is. Assisting organisations and people making a difference to causes and ecosystems that sustain us all is rewarding personally. I know our TPT Wealth Trustee Services team feel the same in dealing with the many NFP’s and Private Ancillary Funds they support.

View Alan Logan's profile