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
News
- 20 Oct 2017Parliamentary insurance group formedBy Staff Reporter
- 20 Oct 2017Treasurer introduces BEAR legislationBy Aleks Vickovich
- 20 Oct 2017Westpac to refund $65m to customersBy Annie Kane
- 20 Oct 2017Survey tips independent takeoverBy Aleks Vickovich and Jessica Yun
- 18 Oct 2017AFA suffers budget blowoutBy Killian Plastow
- 18 Oct 2017ISA ups ante on governance lobbyingBy Aleks Vickovich
- view all
