Xplore Wealth Ltd (ASX: XPL) (formerly Managed Accounts Holdings Ltd) was established in 2004 to provide Managed Discretionary Accounts (MDAs) to the financial planning market. Over the next 13 years the Group grew to approximately $2.5 billion in funds under administration (FUA) – making it Australia’s largest specialist MDA provider.
In November 2017, the Company merged with the Linear platform business in Melbourne. Linear, which was established in 2008 provides administration and technology solutions to the wealth management industry with a focus on platform, superannuation, registry administration and reporting solutions. At the time of the merger Linear had over $10 billion FUA on behalf of some of Australia’s largest private banks and stockbroking firms.
The securities of Xplore Wealth Limited (‘XPL’) will be suspended from quotation at the close of trading today, Friday, 19 February 2021, in accordance with Listing Rule 17.2, following …