SFG Australia has urged shareholders to vote in favour of the IOOF acquisition, claiming the deal will bring quality of advice benefits.
The proposed scheme will result in “best of breed advice” being provided by staff of the new consolidated entity, Mr Promnitz added, as well as “scale and competitive advantage”.
Mr Promnitz said the directors “unanimously recommend that [shareholders] vote in favour of the scheme”, a sentiment that was seconded by IOOF chairman Roger Sexton in a separate statement.
“On behalf of the IOOF board, I encourage you to vote in favour of the scheme and look forward to welcoming you as an IOOF shareholder,” Dr Sexton said.
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