Plan B targets NZ for growth
Western Australia-based financial planning dealer group Plan B has told investors it is looking to expand its affinity partner program onto the eastern seaboard and New Zealand, and expects to announce an additional partner agreement in New Zealand in the near future.
In an investor update released on the Australian Securities Exchange today, Plan B said it currently had nine affinity partners — six in Australia and three in New Zealand, with over 50 per cent of the affinity partners’ advised business being invested through Plan B’s platform.
However, the dealer group said it was applying a disciplined approach with respect to acquisitions because it was “not looking to aggregate struggling practices”.
The group also said it had recently won an investment mandate in the not-for-profit sector with funds in excess of $30 million.
AUTHOR
Mike Taylor
Recommended for you
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.
