Ray Miles is a man who likes to get things done. A simple fact that is more than evident when considering his 30 year financial services’ career that is rich in achievements including founding what is arguably Australia’s most successful financial services company to-date.
After a relatively fast rise through the ranks of MLC and later AEtna Life & Casualty, Ray was General Manager of Sales when the latter was purchased by Prudential in 1989. Within months, Ray had resigned and established a financial planning group of nine financial services’ practices which comprised just 13 financial advisers. It was staffed by Ray personally and his Executive Assistant, Sue Hunt.
Together they formed Associated Planners and under Ray’s leadership grew the business and merged with Garrisons to become Genesys Wealth Advisers.
Ray stayed on as Managing Director of Genesys Wealth Advisers (as Associated Planners was then known) until 2006. When Ray stepped down as Managing Director, the business he had founded with a handful, albeit outstanding financial advisers, had grown to 160 offices, 410 financial advisers and enjoyed a turnover of $124 million.
During those 17 years he spent building those businesses, Ray learned a lot about financial planning groups and their clients. While those businesses may have been great, as far as Ray is concerned his current venture, Fortnum Financial Advisers which launched in 2010, will be better.
When you spend time with Ray Miles words like “innovation”, “clients first” and “there’s always a better way” pepper almost every conversation. He is also well known for another important quality – honesty. Ray says telling the truth negates the need for a good memory, but it is also a driving force that implements change as the confidence to “tell-it-like-it-is” exposes the warts and all.
It is this commitment that has inspired a collegiate culture where the advisers within the group share experiences for the betterment of all and where the Principal Practices are woven into the very fabric of the group. As Ray says, ‘having skin in the game’ makes their own reputation and the reputation of the group as a whole to deliver services to clients, very personal.
Innovation links directly to Ray’s vision of “finding a better way” and his “client first” philosophy, and it underpins every decision. Combined, these are the reasons why Ray has established companion companies Innova Asset Management Pty Ltd, a specialist portfolio management service and e-Clipse Online Pty Limited, which administers the Unified Management Account at significantly less cost to investors.