MAH takes stake in GPS Wealth-linked firm

The planning subsidiary of publicly-listed Managed Accounts Holdings Limited has taken a minority stake in GPS Wealth-linked Queensland-based planning firm, Holman McGregor Financial Services (HMFS).

Managed Accounts Holdings announced to the Australian Securities Exchange (ASX) today that its subsidiary, Planner Holdings Limited, had taken up the stake "as it ramps up plans to invest in quality advice businesses".

Managed Accounts Holdings executive chairman, Don Sharp, said Holman McGregor was based in Noosaville on the Queensland Sunshine Coast and represented an ideal fit for Planner Holdings Limited.

Related News:

Planner Holdings Limited was established last year to provide expansion capital to advisory firms with large self-managed super fund client bases.

"HMFS exemplifies the type of quality advice practice we're looking to partner with to drive and grow business efficiency," he said.

HFMS was established in 2003 and was run by Ron McGregor and boasted five staff including two advisers.

The practice was licensed by dealer group, GPS Wealth, of which McGregor was a both a co-founder and director




Related Content

Financial services ranked amongst least trustworthy industries

Consumers rate transparency and ethical behaviour as vital to building industry trust, and are calling out financial services as one of the least trus...more

Are super funds selling their members short on tax?

Australian superannuation funds could be selling their members short by up to a combined $6 billion a year because they are not managing their tax pos...more

ASIC releases cost recovery forecasts

The Australian Securities and Investments Commission (ASIC) forecasts its efforts to regulate the financial advice sector will cost $29.5 million, whi...more

Author

Comments

Add new comment