Maple-Brown Abbott CEO on the firm’s desire to grow adviser reach; Sequoia hires former Praemium exec

Now is a difficult time to be a fund manager, according to Maple-Brown Abbott chief executive, Sophia Rahmani, with the firm focusing on distribution to financial advisers to boost growth.

Former Praemium chief distribution officer, Martin Morris, has found a new role at Sequoia Financial Group, among three senior appointments made by the firm.

WT Financial is expecting to see a 130 per cent increase in net profit after tax, as it releases indicative results for FY22–23, and CEO Keith Cullen believes the outlook for financial advice has “never been stronger”.

Abbey Cook has departed the firm after almost four years to join small and mid-cap fund manager, Fairlight Asset Management.

Former Select AFSL and BlueInc Services managing and sole director, Russell Howden, has had a stay order dismissed by the Federal Court as he awaits the outcome of an appeal.

The new fund manager, which launched its first three funds this month, has named Apex Group for fund administration, transfer agency, middle officer and custody solutions.

It could make sense for Australian wholesale investors to include corporate bonds in portfolios, with the traditional role of bonds re-emerging in 2023, writes Bruce Murphy.