Two financial advice firms, both licensed under IOOF’s Lonsdale Financial Group, have merged operations in a move to strengthen their businesses and expand reach, the firms announced.
The merger, between Lonsdale in Cairns and Brisbane-based Capital Focused Financial Planning, took effect on 1 June, the firms said in a statement. The two will operate under the Capital Focused brand.
The deal enables Capital Focused to establish a stronger presence in Queensland, the statement said, while Lonsdale clients will benefit from additional resources.
Capital Focused principal Michael Kennedy said, “Uniting our companies was a logical step in our business development”.
“The merger offers us opportunities to expand our reach and services in the Far North and build strong relationships in the community,” he said.
Lonsdale in Cairns' director, Chris White, said the merger will allow his firm to provide an increased level of service to clients.
“The decision to merge with Capital Focused was based on the opportunities this brings to focus on why I started my own business: to help clients plan and build for a successful future,” he said.
Mark Stephen, chief executive of Lonsdale Financial Group, also welcomed the news.
“It’s a win-win for all stakeholders, especially for the clients who will now have access to the broader Capital Focused team,” he said.
“Capital Focused are a valued member of the Lonsdale network and have a history of delivering an exceptional level of service and advice to their clients. We look forward to continuing to support the growth of this business.”
Diverger has made an offer to acquire Centrepoint Alliance, a move that would create one of the largest licensees behind only Insignia and AMP.
The corporate regulator has outlined a key focus on product labelling and advertising.
The federal government has sought to clear up uncertainty about the status of crypto for tax purposes following the adoption of bitcoin as legal tende...
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.