Director joins Managed Account's board amid merger

Managed Accounts Holdings has announced the appointment of Stephen Reed to its board, effective November 2017.

Reed is a former director of Linear Financial Holdings and joins the Managed Accounts' board following the firm's successful acquisition of Linear earlier this month. Previously, he founded one of Australia's first aggregators of financial advisers and accountants, Austchoice, which was listed on the ASX in the mid 2000's.

Also joining the merged entity's board is Linear co-founder and executive chair, Colin Peterson.

Commenting on their appointments, Managed Accounts' executive chair, Don Sharp, said: "Colin and Stephen both have long and proven track records in successfully growing administration solutions businesses that meet changes in financial adviser demands and the needs of their clients."

He added: "Both bring tremendous experience, vision and energy to our commitment to become an integral part of Australia's wealth management segment as the shifts toward non-unitised solutions gain favour over traditional platforms."