Wealthtrac regrows FUM
Superannuation and investment platform provider Wealthtrac says it has grown its Funds Under Management (FUM) back to levels close to those achieved before the global financial crisis.
According to Wealthtrac managing director and chief executive Matthew Johnson, its total FUM is now $705 million, which is just short of the $725 million recorded before the GFC.
Johnson said the company had recruited a number of new advice firms in the past six months, with the most recent being the privately-owned and operated Stonehouse group.
He said the service provided by Wealthtrac went beyond simple administration to helping financial advisers to grow and develop their businesses.
Recommended for you
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
