Digital advice firm Advice Intelligence has entered voluntary administration but insists it will continue to operate its platform and support clients as it pursues further funding arrangements.
In a statement, the digital advice provider said this was due to a decision from investor Regal Funds Management chief investment officer Philip King opting to withdraw future funding.
This decision is founded upon a landscape of high-interest rates, economic uncertainty, and the overall tightness of capital markets, the statement said.
At the time of publication Regal had not responded to requests for comment.
CEO Jacqui Henderson maintained her passion for the company but noted the shared vision for the company was in jeopardy.
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Read the full article at: https://www.professionalplanner.com.au/2023/05/a-i-aims-to-maintain-adviser-support-despite-entering-voluntary-administration/