AAM sells stake, points to consolidation

Melbourne-based Easton Investments has taken a 19.9% equity stake in Singapore’s AAM Advisory, in a move aimed at boosting support for Australian expatriates in the Lion City. The deal is part of a plan by the Australian wealth management and advisory firm to buy stakes in Asia-based advisory businesses. It aims to build up a combined $1 billion in assets under advisory and $300 million in AUM over the next year or so. AAM Advisory provides financial advisory services to Singapo…