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.
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