Venturing into capital raising
Australian Financial Securities (AFS) is a dealer group with a difference, carving out the niche of venture capital raising in the financial services industry. Nicole Szollos went inside the dealers with AFS director Brad McGougan to get the AFS inside story.
</B>Vital Statistics Box
Name Australian Financial Securities (AFS)
Obtained dealers licence March 1998
Number of Adviser groups 10
Number of Proper Authority Holders 35
Funds under management $110 million
Research Assirt, van Eyk and internal
Recommended for you
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
