Managed Accounts Holdings Limited (MGP) is supporting the $34 million capital raising required to for the full purchase of platform and administration solutions provider Linear Financial Holdings, by conducting a national roadshow.
The financial services firm has appointed Shaw and Partners and Evans and Partners as joint lead managers for the roadshow project, as well as Veritas Securities as a co-lead for the management of raising.
MGP chairman Don Sharp said the merged entity of the firm with Linear Financial Holdings would result in funds under advice exceeding $11 billion.
“[It] will create significant operating scale and extend our suite of products and services for the independent financial advisory market,” he said.
“The proposal has the unanimous support of the Linear board.”