Direct Portfolio/ Pentafin merger complete
Direct Portfolio and Pentafin have confirmed they have completed their merger.
Pentafin chief executive Connie McKeage is the chief executive of the new group, which will be called Pentafin.
“As an integrated organisation, we are now single-mindedly focused on our combined clients and committed to ongoing investment to further enhance our core capabilities,” McKeage said.
Money Management first reported on the plans for the merger in April of this year.
Recommended for you
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
