Plan B FUMA hits $2.19 billion
Plan B has announced that funds under management, administration or advice (FUMA) was $2.19 billion at the end of March, marking an overall increase of 19.7 per cent in FUMA compared to 30 June 2009 and an increase of 1.2 per cent in contrast to its December 2009 position.
The proportion of total FUMA held on Plan B’s platforms rose to 77.6 per cent at the end of March 2010, while the on-platform FUMA was $1.70 billion — 23.3 per cent higher that at 30 June last year and 3.4 per cent higher than at the end of 2009.
AUTHOR
Angela Faherty
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
