InvestSense grows FUM 40%
Managed accounts provider, InvestSense, has seen its funds under management (FUM) grow over 40 per cent, and announced the appointment of Paul Carrington to help manage the growth of the firm.
InvestSense director, Fil Andronaco, says the increase in FUM was largely driven by industry wide demand for managed accounts as advisers move away from traditional managed fund solutions.
“One of the key drivers of growth for the firm is the migration to managed accounts by the financial adviser community,” said Andronaco.
In response to the increased growth, Carrington, who has over 30 years’ experience in the financial advice sector, to the newly-created role of director, head of adviser solutions.
“Paul’s first-hand experience and depth of knowledge in financial advice will be invaluable for our clients, as well as for driving further growth in our bespoke managed accounts offering,” said Andronaco.
Commenting on his appointment, Carrington said he long believed managed accounts would play an increasingly important role in the future of the financial advice industry.
AUTHOR
Anastasia Santoreneos
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
