Clicky

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

Asia-Pacific home to most unsatisfied HNWs

The Asia-Pacific region has extended its lead over other regions as having the largest high net-worth individual (HNWI) population, but investors’ s...Read more

Westpac slammed with $3.3m fine for BBSW manipulation

The Federal Court has ordered Westpac to pay a $3.3 million penalty for its involvement in setting the BBSW in 2010.The order follows Justice Beach’...Read more

Report reveals miniscule number of advice complaints

Complaints about financial planning and advice represented only a microscopic proportion of complaints received from customers by the major banks, acc...Read more

Author

Comments

Add new comment