Powerwrap signs wealth boutique
Powerwrap has announced it has entered into an agreement with new wealth management boutique Emanuel Whybourne, founded by Craig Emanuel and Tim Whybourne, which manages approximately $750 million in assets for high net worth (HNW) clients.
Under the terms of the deal, Powerwrap would provide platform administration and access to its reporting services for the firm’s HNW and ultra HNW investors as well as it would offer access to a range of asset classes including domestic and international fixed income, model portfolios and alternative assets.
“We selected Powerwrap as our platform provider largely due to their ability to manage the complexity of our client portfolios,” the manager said.
Powerwrap’s chief executive, Will Davidson, commented: “We provide a very broad investment universe including alternative assets. We can execute on all asset types and provide consolidated reporting on all assets.
“We are very pleased that Craig and Tim have chosen Powerwrap and we are working closely with them to transition their clients onto the platform.”
AUTHOR
Oksana Patron
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
