Sonray enters voluntary administration
Melbourne-based advisory and investment company Sonray Capital Markets has entered voluntary administration.
The administrators for the company, Ferrrier Hodgson, confirmed that the company had halted trading and entered voluntary administration last night. The principals of Sonray could not be contacted.
The company was established in 2003 and marketed itself as both an advisory and investment company, with its website stating that its "expert general financial advice and specialist knowledge allow our private advisory clients and high-net-worth individuals the ability to navigate the market in all market conditions, primarily in the areas of futures, equities, options, contracts for difference and margin foreign exchange".
Recommended for you
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
