Wealthtrac Managing Director and CEO, Matthew Johnson, said Wealthtrac continues to perform very strongly against other platforms and is actively recruiting firms who wish to remain independent in the face of thecurrent sweep of buyouts by major banks and institutions. 

“Our total FUM is now just short of where it was at the peak of the market in October 2007.  Our FUM for the calendar year of 2011 rose by five per cent.  This is against the average 5.1 per cent fall in other platforms.” 

Mr Johnson said Wealthtrac had recruited a number of newadvice firms in the past six months.   The most recent recruit is the privately-owned andoperated, Stonehouse Wealth Management. 

“We have always positioned Wealthtrac as the right solution for independent advisers.  The service we provide our adviser members goes beyond simple administration, to helping them grow and develop their businesses.  We have found that this model is in strong demand as theadvisers who wish to remain independent and competitive, look to align themselves with business and services that specifically serve their market.” 

The Queensland-based firm began operating in March 2005 through the amalgamation of two family practices. Senior partners Kevin Stewart and Andrew Stewart have more than 65 years combined experience in the financial services industry.   Stonehouse has in excess of $300 million in funds under advice.

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