Multinational investment manager and corporate advisory firm Aura Group has acquired a majority stake in Sydney-based, self-licensed financial advice firm Accountable Financial Group.
Aura – which has offices in Sydney and Singapore – has made a cash offer to acquire Accountable (AFG) which provides SMSF, insurance and investment advice and was launched in response to the removal of the accountants’ exemption.
“[AFG] allows accountants to continue offering SMSF and superannuation advice to clients by offering multiple solutions ranging from minimum regulatory training requirements, a license which allows accountants to offer bespoke advice authorisations, including general, limited and comprehensive advice solutions,” said a statement.
Aura Group managing director Calvin Ng said he was attracted to the firm’s almost $1 billion in funds under advice and access to SMSF investors.
SUBSCRIBE TO THE IFA DAILY BULLETIN
News
- 14 Dec 2018ASIC clarifies RG 146 requirements for advisersBy Adrian Flores
- 14 Dec 2018Sargon Capital acquires listed robo adviserBy James Mitchell
- 14 Dec 2018Industry body flags CPD burden under FASEA proposalBy Adrian Flores
- 14 Dec 2018Adviser exodus creating ‘enormous opportunity’ for accountantsBy Jotham Lian
- 14 Dec 2018Advisers embracing ESG investing, says surveyBy Adrian Flores
- 13 Dec 2018AFA picks apart CPD policy from FASEABy Adrian Flores
- view all
