Australian Unity Personal Financial Services has made a non-binding offer to acquire all of the shares of a non-aligned financial planning licensee.
Aus Unity’s financial advice arm has made an official bid for Premium Wealth Management, with the latter’s shareholders now examining the terms of the proposed acquisition.
Australian Unity Personal Financial Services chief executive Steve Davis said the acquisition would give his dealer group additional exposure to the accounting market.
“It should also better position Australian Unity Personal Financial Services to take advantage of opportunities arising from the significant regulatory and environmental changes impacting the profession,” Mr Davis said.
“Premium is a successful business, with a high quality group of advisers that has substantial revenue, funds under advice and clients, and will be a significant contributor to increasing the scale and strength of Australian Unity Personal Financial Services.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Jul 2018CPA shuts financial advice divisionBy Reporter
- 20 Jul 2018Don't neglect AI, advisers warnedBy Tim Stewart
- 19 Jul 2018AMP unveils new in-house training programBy Reporter
- 19 Jul 2018Self-licensed adviser cops 4-year ASIC banBy Reporter
- 19 Jul 2018Hub24 to launch new core offeringBy Reporter
- 19 Jul 2018SMSF sector warns about advice ‘exodus’By Miranda Brownlee
- view all