InvestSense grows FUM 40%
Managed accounts provider, InvestSense, has seen its funds under management (FUM) grow over 40 per cent, and announced the appointment of Paul Carrington to help manage the growth of the firm.
InvestSense director, Fil Andronaco, says the increase in FUM was largely driven by industry wide demand for managed accounts as advisers move away from traditional managed fund solutions.
“One of the key drivers of growth for the firm is the migration to managed accounts by the financial adviser community,” said Andronaco.
In response to the increased growth, Carrington, who has over 30 years’ experience in the financial advice sector, to the newly-created role of director, head of adviser solutions.
“Paul’s first-hand experience and depth of knowledge in financial advice will be invaluable for our clients, as well as for driving further growth in our bespoke managed accounts offering,” said Andronaco.
Commenting on his appointment, Carrington said he long believed managed accounts would play an increasingly important role in the future of the financial advice industry.
Recommended for you
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.
Three solutions providers – Betashares, Franklin Templeton and Russell Investments – have all launched new ETF products, including one range which uses gearing to help build wealth.
Platinum Asset Management chief executive, Jeff Peters, has shared a progress update on its newly announced turnaround strategy.
There is a role for advisers using inflation-linked bonds in portfolios, according to AXA IM, as the possibility of higher inflation necessitating another US rate hike is not out of consideration.