Managed Accounts subsidiary invests in GPS-aligned firm

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- Monday, 18 Jul 2016 0 comments — 1 minute read

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ASX-listed MDA provider Managed Accounts Holdings has announced that its subsidiary company has acquired a minority interest in a Queensland-based advice firm.

The subsidiary, Planner Holdings Limited, has acquired a stake in Holman McGregor Financial Services (HMFS) as part of the firm's plan to invest in “quality advice businesses”, Managed Accounts said in a statement.

HMFS, which is licensed by GPS Wealth, provides comprehensive and strategic advice to retirees and wealth accumulators aged 35 to 50. The firm is run by Rob McGregor, who is a director and co-founder of GPS Wealth.

Managed Accounts Holdings executive chairman Don Sharp said HMFS represents an “ideal fit” for Planner Holdings, which was established in 2015 to provide expansion capital to advice firms with a large SMSF client base and commitment to maximising efficiencies.

“HMFS exemplifies the type of quality advice practice we’re looking to partner with to drive growth and business efficiency,” Mr Sharp said.

“Planner Holdings will not seek to control or influence the board of HMFS or any future advisory firms it invests in but each business will remain independent.

“Rob and his team will run the business without any influence or conflict, and Planner Holdings will not have any control of day-to-day management,” he said.

Mr McGregor, meanwhile, noted: “We’re focused on delivering quality client-focused advice and continuing to grow the business.

“Our new relationship with Planner Holdings Limited has allowed us to restructure our ownership and positions us strongly for the future.”

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