Macquarie flags expansionary approach
Macquarie Group has revealed an expansionary strategy with respect to financial services in Australia, telling an investment forum today that it will be looking to grow market share as its competitors either reduce their size or exit the arena.
The briefing, details of which were released to the Australian Securities Exchange (ASX), saw Macquarie saying it would pursue selective acquisition opportunities and strategic partnerships similar in nature to its arrangement with WHK Group.
It said the banking group would also be pursuing growth in high margin relationship banking, lending and advice.
As well, Macquarie said it would be continuing to pursue growth via a wrap solution in the UK and self-managed superannuation funds.
AUTHOR
Mike Taylor
Recommended for you
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments for investments.
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
