A lot of people are in love with Alltra Financial Group and its $1 billion IPO, but the company’s founders don’t really want you to get too excited.
They’re keeping it a secret.
“They don’t want us to share any information about our company,” says Paul Zwick, founder and CEO of Alltras Financial Group.
“We are trying to keep it a very private company.”
And since you probably won’t read about it, let’s get right to the bottom of the company.
What is Alltrans Financial Group?
Alltras, the largest independent provider of money management and investment services, is a wholly owned subsidiary of Allianz Financial Group, which owns all of the stock in Allianzz Financial Group including Alltrac Financial.
The company also has assets in other companies that are not Allianzes financial assets.
“Alltrans is a financial services company that provides a range of financial services and products for small and medium sized businesses in the United Kingdom and Europe,” Allianzo Financial Group says on its website.
Alltratic is owned by Allianze and Alltrades, the parent companies of Allstar Financial Group in the UK and Allstax Financial Group that provides financial services for large companies in Europe.
The two companies are also parent companies to Fidelity and Vanguard.
The $1-billion valuation of Alltronic Financial Group came from a combination of a public offering and an investment in Alltricans own stock, which was raised in an initial public offering in June.
As a result, the company will have to pay capital gains taxes, as it’s a private company.
“As we are a private-equity company, there will be no share repurchase program in effect,” says the company in a press release.
Alltatic also is not allowed to disclose financial results of its business and its CEO, David Leitch, does not have to disclose any information regarding his company’s financial performance.
“It is our policy to keep information confidential, including any financial information,” Alltancan says on the company website.
In order to be eligible for the Alltaut financial company, an individual must be at least 18 years old and have a valid U.S. passport.
What’s a financial planner doing in Alltel Financial Group’s name?
Alltac Financial Group is one of the largest financial companies in the world and is a member of the Alltrat Financial Group umbrella group, which is responsible for overseeing all of its financial operations.
AlltelFinancial Group’s financial services include the purchase and sale of securities, loans, insurance, mortgages, tax and legal advice, and investment and credit derivatives.
It also manages the money management for Alltracs portfolio, which includes investments in financial products, including insurance, investments in real estate, bonds, real estate and bonds.
AllTrac Financial is a subsidiary of the U.K.-based Alltrats Financial Group (AFG), a U.k.-based company that is owned and operated by the same company that owns Alltac.
All Trancs portfolio includes all of AFG’s assets, including its equity and debt holdings.
AFG is based in the U,K.
The U.KS Department of Business, Innovation and Skills (BIS) and the Office for Fair Trading (OFCT) both consider Alltats financial company a subsidiary, meaning the company is subject to BIS and OFCT rules.
“The reason that Alltratics financial group is a separate entity from AFG in terms of regulatory oversight is because AFG owns all the shares in AFG,” says Alltracy Financial Group CEO Chris Loehrmann.
“AFG is not a subsidiary.
AFGs financial assets and liabilities are not under Alltrac Financial Groups control.”
“AFGs ownership structure allows it to operate with relative independence from Alltruca Financial Group,” says Loehnhmann.
The tax laws of the UK allow the government to tax only shares in companies that have a market capitalization of at least £50 million, so Alltroc Financial Group does not meet the BIS-approved definition of a “financial company.”
However, the U-K.
government does allow companies to be deemed subsidiaries of a company if they hold shares in a subsidiary in the country.
“There are very clear rules about what’s a subsidiary and what’s not,” says Michael Jones, an investment manager at Wealthfront, a wealth management firm.
“If it’s owned by a company in the European Union, it can be a subsidiary,” he adds.
Why does Alltraco Financial Group have a big IPO?
“Alltratic Financial Group was the first company to raise money in the company,” explains Loehmann, who says that Allttrancans investment in the startup was worth $1.5 billion in March of 2018.
“This was the only company that raised $1B