Pentacle moves into financial planning community
Under a new agreement, Atom Financial Services will be distributing the funds of Pentacle Property Funds Management to the financial planning community.
Pentacle chief executive James Burkitt said since the launch of Pentacle Diversified Property Funds, advisers had shown a strong interest in what was Australia’s first diversified unlisted direct property fund of funds.
He said this prompted the company to enter into a partnership as a way to grow its investor base as well as to increase awareness and acceptance.
“This development encouraged us to form a strategic alliance with Bruce Pellow [Atom Financial Services director], who brings with him years of experience in the distribution of managed funds to the financial planning community,” Burkitt said.
A spokesperson for Pentacle said in the long-term the company hoped to increase its distribution channels through platforms and wraps, but that it was currently only focusing on its relationship with Atom.
Recommended for you
Adviser Ratings’ latest financial landscape report finds there is a demographic of advice practices achieving an average revenue of $5 million, with only 3 per cent of practices overall seeing a revenue decline.
The FAAA is calling for regulators to take a partnership approach with financial advisers regarding incoming legislation, rather than treating the industry as “guinea pigs”.
There have been strong numbers of returning advisers this year so far, according to Wealth Data, already surpassing the same period for 2024.
Less than one-third of Australian business owners have an ongoing advice relationship, according to NAB Private Wealth, highlighting an unmet opportunity for the advice profession to target.
