Evans Dixon unveils rebrand

In a statement to the market on Monday, Evans Dixon said it would rebrand as E&P Financial Group as of mid next month.

The wealth management group said the name change was subject to shareholder approval at its 2020 AGM, which would take place on 11 November.

“The board believes that the change will align the group’s trading brands and increase market awareness of the group’s collective offering,” Evans Dixon said.

The group said it would migrate its ASX listing ticker code to ‘EP1’ following the rebrand to “provide easier recognition for market participants and followers of the group”.

The announcement follows recent news that the corporate regulator had commenced civil proceedings against Evans Dixon advice subsidiary Dixon Advisory and Superannuation Services for alleged conflicts, failing to act in its clients’ best interests and providing inappropriate advice.

ASIC’s case alleges Dixon Advisory breached the best interests duty a number of times between 2015 and 2019 in relation to advice to clients to invest in the group’s US Masters Residential Property Fund and related products.

Evans Dixon also announced earlier in the year that it had cut 20 per cent of its staff as part of a wind-down of its US operations, as well as custody business Dixon Projects Australia.