SFG Australia, the wealth management firm, has bolstered its portfolio administration business with a senior hire.

John Cowan joins the executive management team from WHK, the Australian advisory group, where he served as head of financial services for three years. Cowan brings over 25 years of wealth management and financial services experience to his new role, including a consulting position with Shadforth Financial Group, one of SFG's subsidiaries.

At SFG Australia, he oversees portfolio administration alongside the Cortex Best Advice team to grow the firm's advice businesses. His other main responsibility will be to supervise "bolt-on and tuck-in acquisitions," the company said.

The company has had a strong year so far, posting an 84 per cent after-tax net profit in the first half year to 31 December 2011. SFG, formerly called Snowball Group, merged with Shadforth Financial Group in June, creating a new firm with some 188 financial advisors. SFG's businesses now include Shadforth, Outlook Financial Solutions, Western Pacific Financial Group and several advisory partnerships through Actuate Advice Solutions.