Wealthtrac continues growth
Specialist superannuation and investment platform provider Wealthtrac is continuing to market its services to independent financial planners, having rebuilt funds under management (FUM ) back to levels not seen since before the global financial crisis.
The company announced last week that total FUM had reached $705 million, which it said was just short of the $725 million reached in October 2007.
Commenting on the achievement, Wealthtrac chief executive Matthew Johnson said the company was continuing to actively recruit firms wishing to remain independent in the face of buyouts by the major banks and institutions.
He said Wealthtrac had recruited a number of new advice firms in the past six months, the most recent being privately-owned and operated Stonehouse Wealth Management.
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