PictureWealth welcomes Head of Westpac Consumer Bank WA as PictureWealth Advisory CEO, and raises AUD$14 million to accelerate the digitization of Australian financial planning
Picture Wealth Holdings Ltd (“PictureWealth”), a fast-growing wealth fintech has bolstered its executive team by hiring the Head of Westpac’s Consumer Bank for Western Australia, Allan Maitland. This is on top of a recent investment of $14m from an undisclosed institutional investor in late 2021. Maitland will be the CEO of PictureWealth Advisory Pty Ltd, the largest subsidiary in the PictureWealth Holdings group of companies, and is responsible for the growth of the business across its operations in NSW, WA, SA, QLD and soon to be VIC. He has over 20 years’ experience in financial planning and consumer banking, with previous role as GM for BT financial group.
David Pettit, co-founder at PictureWealth will continue to lead the group as Picture Wealth Holdings Ltd Group CEO, with a greater focus on stakeholder engagement, strategy, and M&A.
Pettit stated – “We have achieved a huge milestone in our business, with such a significant institutional investor behind us we felt it was time to accelerate our business further and Allan is a seasoned professional that brings a depth of experience that is hard to find in the local market”
In relation to taking on the role, Maitland commented “I am really excited about the PictureWealth vision and the opportunity to work with the team to grow a leading Financial Services brand nationally.”
Co-founder and Chairman Neal Cross commented – “It seems that all good things come in three’s: – we have secured our 1st investor in our Series A, have just got Allan on board and are moving our HQ into a new 60-person office in the Perth CBD, it’s a strong start to the year and we see great potential in 2022 and beyond.”
PictureWealth secured AUD$14 million in funding from an institutional investor, advancing the total funding to date to AUD$30 million. This will be deployed to further build out its award-winning technology stack and to continue the acquisition and digitization of financial planning practices.