ECP Asset Management expands



Manny Pohl’s boutique Australian equities manager ECP Asset Management has expanded its footprint, establishing a national office in Sydney and expanding its investment team.
The company announced that former Macquarie Bank senior staffer Andrew Dale would be joining the investment team as a portfolio manager in the new Sydney office.
Commenting on the moves, Pohl said investments within clients’ portfolios were performing strongly and that this was leading to increasing demand.
“We launched our funds management business less than 12 months ago. Our flagship strategy, the ECP AM EX50 strategy, is performing extremely well and our funds under management have been rising steadily,” he said.
Pohl said the business had further growth plans and additional announcements would be made soon.
Recommended for you
ASIC commissioner Alan Kirkland has detailed the regulator’s intentions to conduct surveillance on licensees and advisers who are recommending managed accounts, noting a review is “warranted and timely” given the sector’s growth.
AMP and HUB24 have shared the areas where they are seeking future adviser growth, with HUB24 targeting adding more than 2,000 advisers to the platform.
Bravura Solutions has appointed a new chair and deputy chair to take over from departing Matthew Quinn, while Shezad Okhai picks up another responsibility.
Two advisers say M&A is becoming a “contact sport” as competition heats up to acquire attractive advice firms, while a lack of new entrants creates roadblocks in organic growth opportunities.