Plan B targets NZ for growth
Western Australia-based financial planning dealer group Plan B has told investors it is looking to expand its affinity partner program onto the eastern seaboard and New Zealand, and expects to announce an additional partner agreement in New Zealand in the near future.
In an investor update released on the Australian Securities Exchange today, Plan B said it currently had nine affinity partners — six in Australia and three in New Zealand, with over 50 per cent of the affinity partners’ advised business being invested through Plan B’s platform.
However, the dealer group said it was applying a disciplined approach with respect to acquisitions because it was “not looking to aggregate struggling practices”.
The group also said it had recently won an investment mandate in the not-for-profit sector with funds in excess of $30 million.
AUTHOR
Mike Taylor
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
