Aviva takes slice of Meritum
Aviva Australia has taken up a stake in Melbourne-based dealer group, Meritum Financial Group.
Aviva chief executive Allan Griffith said acquisition of the stake was consistent with the company’s strategy of taking up stakes in successful dealer groups.
Meritum has around $2.6 billion in funds under advice and more than 80 advisers.
According to Meritum director Brian Dau, the Aviva investment will allow the dealer group to move to the next level and achieve the strategic objective of a salaried adviser force.
AUTHOR
Mike Taylor
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
