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Zero carbon economy to create substantial wealth

Posted by Anton Murray Consulting on . Posted in Funds Management News, Investment Banking News, Market Commentary, News, Wealth Management News

InvestorDaily

New research has shown that a zero waste and zero carbon policy can lead to significant wealth creations which will be driven by technology. Research from Macquarie University has found that an estimated $20 trillion in new wealth could be generated, fuelled by cleantech patents. Professor Martina Linnenluecke from the university said that investors, asset managers and super funds would drive the clean-energy momentum, motivated by the potential of new wealth.

“Our analysis estimated that the total wealth created by the development of cleantech patents ranges from US$10.16 to US$15.49 trillion dollars and will involve an additional investment stimulus to the economy from US$2.93 to US$3.71 trillion,” she said. Already cleantech has become a fast-growing patent class said Professor Linnenluecke but further investment in the field would generate more wealth creation. “Our projections show that there are vast sums of money to be made by investment in cleantech. Estimates of wealth creation of between US$10.16 to US$15.49 trillion mean that there are enormous opportunities for business to create wealth and drive GDP for decades to come,” she said.

The rest of this article can be found at investordaily.com.au.

CBA makes hires to lead wealth demerger

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

IFA

The Commonwealth Bank has appointed Jason Yetton as the new chief executive of the demerged wealth management and mortgage broking businesses, NewCo, while Andrew Morgan will be the chief financial officer of the new entity. Mr Yetton will join after two years as chief executive and managing director of SocietyOne. Prior to that, he spent more than 20 years at Westpac and BT Financial Group, including as group executive of Westpac’s retail and business banking business, CBA said in a statement.

His appointment is also subject to regulatory approvals, including any applicable APRA registration requirements, CBA said. Mr Morgan is currently CBA’s chief financial officer for wealth management. Prior to this, he was CFO for the business and private bank and Bankwest at CBA, and has over 25 years’ experience in the financial services and property sectors, including at Lend Lease Corporation, National Australia Bank, Radian and Perpetual.

The rest of this article can be found at ifa.com.au.

Crestone revenue grew 16% in FY18

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

InvestorDaily

Crestone Wealth Management announced its revenue grew to $97.9 million as well as a rise in assets under management (AUM) by 16 per cent to more than $17 billion. In a statement, Crestone said its AUM rose in the past 12 months due to new monies coming in and positive performance of client portfolios, noting the growth is in line with its three-year strategic outlook and ahead of its forecasted revenue and profit targets. “During FY18 our team has continued its focus on building a business that delivers client-centric advice orientated towards preserving and enhancing the wealth of multigenerational high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients,” said Crestone chief executive Michael Chisholm.

“We do this through accessing the best investment minds in the business, executing seamlessly and assisting clients with their broader wealth needs. Diversification is critical to achieve this, and you need to have unfettered access to all key asset classes across all geographic regions. This is a level of access that we provide to all our clients.” The directors also declared a dividend of 5 cents for FY18.

The rest of this article can be found at investordaily.com.au.

Wingate Asset Management relaunching

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

InvestorDaily

An ownership restructure of the Wingate Group has resulted in a relaunch of Wingate Asset Management. The new management firm will be renamed Talaria and it comes after the executive team of Wingate Asset Management acquired the majority of the equity stake from Wingate Group. The executive team now owns 70 per cent of the business while Wingate Group retains 30 per cent.

The new chief executive of Talaria Jamie Mead said the buyout was the final step in the evolution to become an independent management owned asset manager. “This restructure of ownership positions the business to fully capitalise on future opportunities for growth and performance, by bringing about the complete alignment of interests of the key executives at Talaria, with its investors,” he said. In the restructure, Talaria has also appointed former managing partner of Freehills Martin Hudson as chairperson.

The rest of this article can be found at investordaily.com.au.

Wealth management firms to drive ESG investing says firm

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

InvestorDaily

The future of retail environmental, social, and governance investing will be driven by wealth management firms predicts Cerulli Associates. Cerulli Associates, a global research and consulting firm, said in their latest findings that ESG investing will no longer be solely reliant on asset managers creating new products. According to their latest findings, one-quarter of advisor’s plan to increase their use of ESG investing in the next twelve months with many being supported by wealth management platforms.

Cerulli managing director Bing Walder said the theme of ESG was not a new one for the asset management industry. “Early products were relatively simplistic, screening out ‘sin stocks,’ such as tobacco or gun stocks. However, growing awareness of client change and social issues has revived interest in ESG and socially responsible investing,” he said. The Cerulli report demonstrates that an increased availability of data had changed the mindset of many firms from avoidance to searching for companies that would generate financial returns but also have social and environment benefits.

The rest of this article can be found at investordaily.com.au.