Shartru enters wealth management arena
Privately-owned investment and advisory firm Shartru Capital Group has moved into the financial advice arena.
The company announced last week it had opened its first financial advice office in Newcastle.
The announcement said the board of Shartru Wealth included economist and former leader of the federal Liberal Party, Dr John Hewson, while its chief executive is Newcastle resident and former director of Centre Capital, Robert Coyte.
It said the other board members included property and investment experts Linden Toll and Andrew Meakin, both of whom had been working in financial services for more than 20 years.
Coyte said he was extremely pleased to be launching the firm in his hometown, and that the experience of the board would help ensure clients' needs were at the forefront of all decisions by the Group.
Recommended for you
ASIC has accepted a court enforceable undertaking from a Perth-based company auditor who failed to adequately conduct multiple audits on an advice firm that receivers say has $100 million missing.
After a brutal month for adviser numbers, the net loss for June now stands at more than 100 advisers, but the financial year is still on track to end in positive territory.
Two advice platforms have been identified by Adviser Ratings as standouts for efficiency as time-pressured advisers become evermore fickle in their platform selection.
Private wealth manager Escala Partners has increased its alternatives allocations to more than a third in the past three years, describing the asset class as offering “fertile ground” for diversification.
