ASB head of investment services Jonathan Beale says the appointment is part of new chief executive Charles Pink's efforts to move the bank forward.

"Part of that is having more of an integrated wealth channel because we do have the luxury of ASB Securities and Aegis, ASB Investments, Jacques Martin and Capital Markets and a few other things. The job description is trying to pull that all together," he says.

Applications for the position closed on July 10, with the job advertisement stating that the new recruit would report to the chief executive of customer markets and products and be responsible for leading the integrated wealth management strategy. The position was open to internal and external candidates.

ASB also now has a new investment advice process firmly in place, having moved away from the previous Five Step Guide used by its investment advisers to a more "traditional" and "strict" financial planning, investment advice process. It has also begun using paraplanning software system Xplan for advisers to feed data into and make recommendations.

The new advice process, the essence of which is captured in ASB's Guide to Investing,  includes an initial 45 minute "getting to know each other" meeting for client and adviser, with more of the fact-finding and discussion around concepts taking place in a second meeting, Beale says. A third meeting is held to present the plans.

"We're moving to a much more written advice (process) every time we transact business for customers," he says.

"I think it's the right way of doing investment advice and is also partly about the regulations. We're probably a few steps ahead with the way that we've educated our advisers and the in-house training and all that sort of stuff," he says.