Select Asset Management creates new business
Select Asset Management has launched a range of new services and offerings, incorporating them into a new business - Select Investment Partners (Select IP).
The investment manager now offers product manufacturing, fiduciary, due diligence and distribution services to third party investment managers, as well as continuing to do so for its own investment management and asset consulting business.
"The Select group will continue to offer the Select Multi-Asset Portfolios, both directly and through Customised Portfolio Solutions, as it has done since inception 10 years ago, but will also offer the asset consulting capability of Select IP directly to dealer groups and family offices who do not require a fund structure," said co-founder and chief investment officer of Select IP, Dominic McCormick.
Select has appointed Winston Capital Markets to provide fund distribution services both for Select's current funds and some of the third party investment managers for which Select will provide services.
Winston Capital Partners has been newly incorporated by Select's former CEO Andrew Fairweather, former executive director of Macquarie Bank Stephen Robertson and former director of Westpac and St George Private Banks Nathan Wares.
Other changes in the team include the resignation of Robert Graham-Smith, with McCormick to take over the day-to-day management of the Select Alternatives Portfolio.
Recommended for you
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
In the run-up to heavy losses expected at the end of the financial year, June has already reported consecutive weeks of adviser losses.
ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam.
ASIC has sent warning notices to social media finfluencers who it suspects are providing unlicensed financial advice to Australians as part of a global crackdown by international regulators.
