Powerwrap adds Chi-X TraCRs and Funds to HNW platform

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Powerwrap, the listed platform provider for high net worth investors, has become the latest in a growing number of wealth management groups to add Chi-X Australia’s innovative product suite to its offering. Yesterday’s announcement follows the recent launch of ten additional Chi-X TraCRs driven by increased trading volumes and awareness among Australian investors, retail brokers […]

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Powerwrap exceeding forecasts and showing steady growth

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Wealth platform Powerwrap Limited (ASX: PWL) last week announced its first full year results (unaudited) since listing. The company reported a strong platform revenue result of $16.3 million for the year, compared with $15.4 million forecast in the prospectus and 9% higher than the 2018 result of $14.1 million. Underlying EBITDA (excluding Share Based Payments) […]

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Powerwrap launches Tickr for financial advisers

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Powerwrap Limited has announced the launch of Tickr, a revolutionary service to empower and incubate financial advisers and adviser groups. Tickr is a turnkey service for wealth adviser groups seeking to establish and grow their own business, rather than be aligned to any large corporate or financial institution. Powerwrap CEO Will Davidson said, “Tickr helps […]

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Platform outlook strong

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Challenger platforms will continue to benefit from industry concerns around integrated wealth management, according to Powerwrap Limited CEO Will Davidson. Mr Davidson told the Powerwrap annual general meeting in Melbourne today that net funds flows were favouring the non-aligned platforms. “Headwinds from the Royal Commission’s scrutiny of the vertically integrated wealth management business model have […]

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Powerwrap appoints Head of Operations

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Powerwrap Limited has announced the appointment of Andrew Hartnett as its new Head of Operations, effective immediately. Andrew brings extensive experience in financial services and was formerly with Bell Potter Securities Limited for seven years. Most recently he was Head of Portfolio Administration Services, where he managed a team of 20 and was responsible for […]

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Powerwrap attracts top industry skills with new management appointments

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 Powerwrap Limited has announced the appointment of several industry leaders to significantly boost its executive team. Wes Gillett has been appointed as Head of Sales, James Edmonds as Chief Operating Officer and Bruce MacDougall as Chief Financial Officer. Powerwrap Chief Executive Officer Will Davidson said, “We are delighted that Powerwrap has added some of the […]

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Powerwrap board and management changes

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Powerwrap has announced that Chris Brant has decided to step down effective this Friday 17 November as both interim managing director and board director, now that a permanent CEO has been appointed. The Powerwrap board will oversee the company’s operations until the new CEO, William Davidson, commences in January. Powerwrap Chairman Matthew Driscoll said the […]

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Powerwrap appoints William Davidson as CEO

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Independent platform provider Powerwrap Limited yesterday announced the appointment of William Davidson as Chief Executive Officer. Mr Davidson is currently the Chief Executive Officer of Bennelong Wealth Partners, an independent wealth management boutique for high net worth clients. He is also the Chief Operating Officer of Bangarra, one of the largest single family offices in […]

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Powerwrap raises $19 million for growth

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Wealth management platform company Powerwrap yesterday announced it had raised a further $19.4 million in capital from existing and new investors to spearhead its next stage of growth. The capital raising, through a private placement with pro-rata priority to existing shareholders and an institutional placement, closed oversubscribed, receiving overwhelming support from both existing shareholders and a […]

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Powerwrap hits $6 billion Funds Under Administration

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Australian financial services company Powerwrap Limited yesterday reported that its Funds Under Administration (FUA) had reached $6 billion, an increase of $480 million in the last month and $1 billion in the last six months. Powerwrap Managing Director Chris Brant said Powerwrap was consolidating its position at the forefront of the platform industry. “Clients are […]

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