Powerwrap acquires MWH Capital
Independent platform provider Powerwrap has acquired financial services firm MWH Capital in an effort to tap into the growing personal investment and broker markets.
MWH Capital has a clearing and execution agreement in place with Pershing Limited, a subsidiary of BNY Mellon.
MWH Capital managing director Mitchell Hurley said conditions within the institutionalised broking industry were creating adviser uncertainty and "pushing advisers to reconsider how they can best serve their clients".
"Platforms are underutilised and often misunderstood in broking," he said.
Powerwrap chief executive Cormac Heffernan said the acquisition would allow Powerwrap to combine the strength of broker execution capabilities with a platform structure in order to offer an end-to-end solution for advisers and brokers.
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