What RM Capital does

RM Capital Pty Ltd is an Australian Financial Services Licensee (AFSL 221938) headquartered in West Perth, Western Australia, operating as the parent of the RM Group with representatives in Melbourne, Sydney, and Brisbane. The firm provides integrated financial services across four interlocking business lines: RM Capital (AFSL licensing and wealth management for advisers), RM Corporate Finance (capital markets advisory under AFSL 315235), RM Research (sell-side equity research on ASX-listed resources companies), and RM Managed Accounts (separately managed accounts managed by partner Aro Asset Management). Its customer base comprises financial advisers operating as Corporate Authorised Representatives, small to mid-cap issuers (predominantly in mining and energy), and sophisticated investors and family offices.

The revenue model blends recurring licensing fees from advisers, transaction-based fees from capital markets activities (IPOs, placements, rights issues, block trades, underwriting), professional services revenue from RM Research coverage, managed-account fees on the RM SMA range, and share trading/settlement fees on integrated platforms. Disclosed lead-managed deal flow includes Triton Minerals (A$30M), Sarytogan Graphite (A$16M), American West Metals (A$12M), Voltaic Strategic Resources (A$7.2M), and Venus Metals (A$2.16M), alongside ongoing research coverage of ASX-listed names such as Culpeo Minerals, AVZ Minerals, Core Lithium, and Blackstone Minerals. The firm leverages CMC Markets Stockbroking and FinClear for back-office trading, Complii for compliance technology, and a 25,000+ subscriber research distribution database as core distribution infrastructure.

Strategically, RM Capital targets small to mid-cap resources and technology issuers in Western Australia and nationally — a segment larger investment banks typically underserve — and monetises both directly (transaction fees, lead management) and indirectly (adviser licensing, SMA management). The firm's competitive position rests on its AFSL platform, multi-city adviser footprint, depth of Western Australian resources expertise, and the integrated nature of its licensing, research, corporate finance, and managed account offerings.

Name

RM Capital

Legal name

RM Capital Pty Ltd

Website

https://rmcapital.com.au

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

RM Capital Pty Ltd is an Australian Financial Services Licensee headquartered in Perth, providing AFSL licensing for financial advisers, corporate finance advisory, equity research, and managed accounts to small and mid-cap ASX-listed issuers and sophisticated investors.

Ownership category

akta.pro rank

Product category

Investment Banking and Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Investment Pools and Funds (5259)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC)

akta.pro secondary industries

Corporate Finance & Capital Advisory (BPAHADAB), Managed Account / SMA Multi-Manager Platforms (FSANAGAL), Advisory Portfolio Management (Non-Discretionary) (FSAAABAD), Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI)

Keywords

• AFSL licensee services
• Corporate finance advisory
• Equity research services
• Wealth management advisory
• Capital raising services

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Licensing/Representative Services: RM Capital operates as an Australian Financial Services Licensee (AFSL 221938), charging fees to financial advisers and Corporate Authorised Representatives who operate under its license. Revenue is derived from licensing arrangements with advisers seeking to provide financial services.
2. Corporate Finance & Advisory: RM Corporate Finance earns fees from capital raising activities including IPO lead management, joint lead manager roles, placements, rights issues, and corporate advisory services for small to mid-cap companies. Fees are typically transaction-based or success-fee arrangements.
3. Research Services: RM Research provides coverage on emerging mid-cap mining and energy companies listed on ASX. Research services are offered to raise profile and awareness of companies in Australian and international capital markets, complemented by the 25,000+ subscriber database.
4. RM Managed Accounts (SMA): Separately Managed Accounts (SMAs) offered through RM Tailored Investments, managed by Aro Asset Management. These include RM Conservative, RM Balanced, and RM Growth portfolios, sold via Product Disclosure Statement with streamlined administrative support for advisers.
5. Share Trading & Settlement: Back-office share trading services provided to financial advisers and their clients, including reliable data feeds and access to corporate activity.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels3 records

Core offering

RM Capital is a full-service Australian Financial Services Licensee (AFSL 221938) providing financial advisers with a turnkey, integrated platform — including AFSL licensing, back-office share trading, corporate deal access, independent research, and compliance/administration support. Through its subsidiaries it delivers corporate finance services (capital raising, IPO lead management, placements, rights issues, underwriting, M&A advisory for small/mid-cap ASX companies), equity research on mining and energy issuers (RM Research), wealth management and financial planning (RM Wealth), and Separately Managed Accounts (Conservative/Balanced/Growth managed by Aro Asset Management).

Product overview

RM Capital operates as a full-service Australian Financial Services Licensee offering an integrated platform of financial services through multiple interconnected brands. The core offering comprises RM Capital (AFSL licensee for advisers), RM Corporate Finance (capital markets and advisory), RM Research (equity research), and RM Wealth (wealth management). These are supplemented by RM Managed Accounts (SMA offerings managed by Aro Asset Management) with three risk-tiered portfolios (RM Conservative, RM Balanced, RM Growth), and a Corporate Authorised Representatives program enabling third-party advisers to operate under RM Capital's license.

Differentiator

Problem solved

Functional benefit

Brands

• RM Research: Leading research house specializing in emerging mid capitalization mining and energy companies listed on the ASX
• RM Corporate Finance
• RM Managed Accounts
• RM Tailored Investments

Products and services

• RM Capital AFSL Licensee Platform Full-service Australian Financial Services Licensee (AFSL 221938) offering financial advisers a fully integrated, cost-effective turnkey platform including AFSL licensing, back-office share trading, access to corporate activity, independent research, reliable data feeds, comprehensive approved product list, compliance and administration support, competitive remuneration structures, and access to major platforms and software. Designed for financial advisers and wealth managers who want full client ownership without the burden of self-licensing.
• RM Corporate Finance (Capital Raising & M&A Advisory) Corporate finance services for small to mid-cap ASX-listed and pre-IPO companies, particularly in resources, mining, energy, technology, and biotech sectors. Capabilities include IPO lead management, joint lead manager roles, placements, rights issues, block trades, seed capital raising, underwriting, sub-underwriting, acquisitions, divestments, valuations, and corporate advisory. Target clients are emerging companies seeking capital markets access below the threshold served by larger investment banks.
• RM Research Research house providing coverage on emerging mid-capitalization mining and energy companies listed on the ASX. Leverages an unrivalled Australian database of 25,000+ subscribers (fund managers, analysts, HNW/family office investors, stockbrokers, corporate advisers, financial journalists, company directors, industry executives) to raise profile and awareness of covered issuers in Australian and international capital markets. Outputs include detailed research reports and flash notes authored by analysts such as N Hoang.
• RM Wealth Comprehensive wealth management and financial planning service offering full-spectrum financial planning, wealth creation, superannuation and retirement planning, insurance, estate planning, and direct equities investment. Delivered through RM Capital advisers and Corporate Authorised Representatives for individual retail and wholesale clients.
• RM Managed Accounts (SMA) Separately Managed Accounts offered through RM Tailored Investments, managed by Aro Asset Management. Three risk-tiered portfolios — RM Conservative, RM Balanced, and RM Growth — provide non-index weighted investment processes for long-term capital growth and income. Sold via Product Disclosure Statement through wealth advisers with streamlined administrative support.

Named customers15 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• FinClearcoreTechnology or IntegrationFinClear is a technology partner providing settlement services and platform access. Featured on the client login page as a trade centre platform, indicating a core operational integration for trade settlement and wealth management services.
• Cloud CartelminorImplementation/ SI/ Consulting PartnerCloud Cartel is credited as the website developer for RM Capital, indicating a web development and digital services partnership.
• CMC MarketscoreChannel Partner/ Reseller/ DistributorCMC Markets Stockbroking is featured on the client login page as a trading platform partner, providing share trading services accessible to RM Capital advisers and clients.
• Aro Asset ManagementcoreChannel Partner/ Reseller/ DistributorAro Asset Management (CAR 1269883) is a Corporate Authorised Representative of RM Corporate Finance (AFSL 315235) that actively manages the RM portfolios (RM Conservative, RM Balanced, RM Growth) for the Separately Managed Accounts offering.
• Prosperion WealthminorChannel Partner/ Reseller/ DistributorProsperion Wealth is a Corporate Authorised Representative (CAR 1000160) of RM Capital Pty Ltd (AFSL 221938), providing financial planning services under the RM Capital license.
• Taurus CapitalminorChannel Partner/ Reseller/ DistributorTaurus Capital is a Corporate Authorised Representative (CAR 1260921) of RM Capital Pty Ltd (AFSL 221938), providing financial services under the RM Capital license.
• Retail Tech CapitalminorChannel Partner/ Reseller/ DistributorRetail Tech Capital is a Corporate Authorised Representative (CAR 1281039) of RM Corporate Finance Pty Ltd (AFSL 315235), providing advisory services under the RM Corporate Finance license.

Scale indicators2 records

Recent moves1 record

Expansion highlights5 records

Direct peers

• Shaw and Partners: Shaw and Partners is an Australian wealth management and stockbroking firm with research, ECM and adviser network — comparable in platform/adviser structure and mid-market advisory profile.
• Azure Capital: Azure Capital is a Perth-based independent corporate advisory firm offering ECM, M&A and strategic advisory to mid-cap Australian companies — closely comparable to RM Corporate Finance's small-mid cap advisory mandate, and shares Andrew Frazer's prior tenure.
• DJ Carmichael: DJ Carmichael is a Western Australia-based stockbroking and corporate advisory firm focused on small-cap resources issuers, directly comparable to RM Capital's RM Corporate Finance franchise in sector niche and client base.
• Hartleys: Hartleys is a Perth-headquartered Australian full-service stockbroking and corporate advisory firm with research, ECM, and wealth management — directly comparable to RM Capital in geographic base, service mix, and small-mid cap resources focus.
• Euroz Hartleys: Euroz Hartleys is a Perth-based full-service stockbroking, wealth management and corporate advisory firm — a direct comparable to RM Capital in scale, geographic base, and integrated wealth/corporate finance model.
• Argonaut Limited: Argonaut is a Perth-based Australian full-service stockbroking, research, and corporate advisory firm focused on small-mid cap resources — directly comparable to RM Capital in WA proximity, sector niche, and integrated research/ECM model.
• Patersons Securities: Patersons Securities (now part of Canaccord Genuity) was an Australian stockbroking and corporate advisory firm with strong WA resources focus and small-mid cap ECM — comparable in sector specialization and prior affiliation of RM Capital team member Andrew Frazer.
• Morgans Financial: Morgans Financial is an Australian full-service stockbroking, wealth management and corporate advisory firm with national coverage — a comparable in integrated adviser platform, AFSL-style structure, and small-mid cap ECM.

Broad incumbents

• Bell Potter: Bell Potter is a larger Australian full-service broking, wealth and corporate advisory firm — a broad incumbent with overlapping ECM, research and adviser platform capabilities relative to RM Capital.
• Canaccord Genuity Australia: Canaccord Genuity (post Patersons Securities acquisition) is a larger global mid-market investment bank with Australian ECM and small-mid cap resources coverage — a broad incumbent operating in adjacent deal space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/RMCapital2
• LinkedInlinkedin.com/company/rmcapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RM Capital