The co-founder and the director of Linear Financial Holdings have been appointed to the board of Managed Accounts Holdings Limited (MGP) following the firm’s acquisition of Linear earlier this month.
MGP executive chairman Don Sharp said the board would now include Linear co-founder and executive chairman, Colin Peterson along with Linear director Stephen Reed.
“Both bring tremendous experience, vision and energy to our commitment to become an integral part of Australia’s wealth management segment as the shifts toward non-unitised solutions gain favour over traditional platforms,” Sharp said.
“[They] have long and proven track records in successfully growing administration solutions businesses that meet changes in financial adviser demands and the needs of their clients.”
MGP acquired Linear on 16 November after a successful $34 million capital raising.