Adviser Ratings seeks to crowd fund growth



Financial adviser ratings business, Adviser Ratings is seeking to raise funds to expand the business via an equity crowd funding campaign.
The company which has moved beyond adviser ratings to licensee ratings has now announced its crowd funding bid and the intended launch of an “Adviser Marketplace” intended to rate service providers such as insurers and platform businesses.
The company said the crowd-sourced capital raise was intended to fund current and future product initiatives principally comprising the distribution and compliance data service, the Adviser Marketplace and Licensee Ratings.
“We are offering investment in ordinary shares at a pre-money valuation of $11 million with $1 million already raised from current shareholders,” the company’s announcement said.
Adviser Ratings Wealth chief executive, Mark Hoven said the capital raise took advantage of the Government’s recently introduced Crowd Sourced Funding regime and was being arranged through Birchal Financial Services.
Adviser Ratings founder and managing director, Angus Woods said that before the crowd sourced funding regime the business had been restricted to approaching only high net worth or institutional investors.
Recommended for you
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.