YBR reports FUM increase
Yellow Brick Road (YBR) Wealth Management has reported underlying funds under management (FUM) of $1.5 billion up to the fourth quarter of 2017, an increase of 10.5 per cent from 2016.
In its 2017 annual report to shareholders, YBR said its FUM increased from $726 million in the fourth quarter of 2016.
It also said its revenue was up by 12 per cent to $11.7 billion, while its premiums under management increased to $17 million, up from $12 million in Q4 of 2016.
“Adam Youkhana was appointed in September 2016 and has led the growth of the Wealth business,” the report said.
“With extensive experience in building businesses in the banking sector, Adam is delivering on a strategy to increase the penetration of Wealth services among the YBR and Vow networks.”
The firm said its Smarter Money Investments grew 300 per cent to $900 million, while YBR Super grew by 43 per cent and life insurance volumes increased by 17 per cent.
The firm said its online will service and a virtual insurance advice service, YBR Life, would provide additional revenue avenues for branches, to provide opportunities for growth in the wealth business.
AUTHOR
Malavika Santhebennur
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
