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 welcomed an independent director to its board, which follows a series of recent appointments at the company.
Ethical investment manager Australian Ethical has cited the ongoing challenging market environment for its modest decrease in assets over the latest quarter.
Commentators have said Australian fund managers are less knowledgeable compared with overseas peers when it comes to expanding their range with ETFs and underestimating the competition from passive strategies.
VanEck is to list two ETFs on the ASX next week, one investing in residential mortgage-backed securities and the other in Indian companies.
