Devon parent reviews options amid sector shakeup

Paul Glass says wealth management sector going through unprecedented change. (Image: Devon Funds Management)

Mon, 22 Jul 2024

New Zealand’s wealth management sector is experiencing an “unprecedented period” of change and consolidation, and Investment Services Group's chair, Paul Glass, says it is not immune. Glass confirmed that Investment Services Group (ISG) – the parent company for Devon Funds Management, JMI Wealth, Select Wealth Management, Clarity Funds and Tahito with $6.5 billion under management – has hired adviser Murray & Co to run a strategic review with all options on the table.Regarding a possible outcome,...

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