Wealthtrac continues growth
Specialist superannuation and investment platform provider Wealthtrac is continuing to market its services to independent financial planners, having rebuilt funds under management (FUM ) back to levels not seen since before the global financial crisis.
The company announced last week that total FUM had reached $705 million, which it said was just short of the $725 million reached in October 2007.
Commenting on the achievement, Wealthtrac chief executive Matthew Johnson said the company was continuing to actively recruit firms wishing to remain independent in the face of buyouts by the major banks and institutions.
He said Wealthtrac had recruited a number of new advice firms in the past six months, the most recent being privately-owned and operated Stonehouse Wealth Management.
AUTHOR
Staff Writer
Recommended for you
E&P Financial Group, former parent of Dixon Advisory, has formally requested to delist from the ASX, with the company noting the negative impact of regulatory proceedings on its share price.
Commentators have discussed how value for money is becoming more critical than ever as licensee fees rise and failure by an AFSL to provide this is driving them to self-licensing.
The final terms of reference for the Dixon Advisory inquiry have been released by the Senate economics references committee, and advisers have just over five weeks to make their submissions.
Financial advisers are in the running to win one of the coveted Women in Finance Awards 2024.
