'They've done that two or three times before in the industry,' says Paul Feeney, CEO of Quilter.
We had just asked him about Citywire Wealth Manager’s exclusive story, which revealed that a dozen senior managers were quitting investment manager subsidiary Quilter Cheviot to go to a rival firm.
In this second part of our sit-down with the wealth management boss, Feeney tells us that a CEO shouldn't take the departure of key staff personally, despite the fact that he does not like it when people leave and take clients with them.
He also says that he will not compromise on the quality of the business's new adviser platform, after the 'painful' lessons learned from the business's use of platform technology provider IFDS.
Quilter dropped IFDS having already shelled out £333 million on a new platform that never saw the light of day. The company is now using FNZ to power its new proposition, which Feeney says is on track for a soft launch early next year.