Over 20 advisers jump ship as Macquarie Group pushes for strategy shift

The private wealth division of  Macquarie Group has taken a hit after more than 20 advisers left amid concerns about the Australian group's narrow focus on wealthy clients and its new fee and remuneration model. The advisers, many of whom were key revenue writers, jumped ship to rival firms across Sydney, Melbourne, Adelaide, Perth and Canberra  before Christmas in advance of a new structure due to be introduced this year. It is understood that Macquarie has between 170 and 200 advisers, the Australian Financial Review reports. Macquarie Private Wealth and Macquarie Private Bank advis...