Equity offer boosts TSG
National financial planning dealer group The Salisbury Group (TSG) has set aside a further 5 per cent of equity as part of its expansion strategy after the successful introduction of an equity subscription last year.
TSG chief executive Mark Euvrard said that the initial 15 per cent equity offering to senior advisers had been fully subscribed — something that he regarded as an endorsement of the group’s approach, and that a further 5 per cent had been set aside for new recruits.
Commenting on the group’s results over the past financial year, Euvrard said that by carefully aligning its boutique market offering to a very specific segment of the marketplace, TSG had recorded another successful year and had maintained the strong profit results obtained in the previous financial year.
He said that in the 12 months to the end of June, the dealer group had recruited eight new practices, with a further three having joined since July 1 this year.
AUTHOR
Mike Taylor
Recommended for you
As Insignia Financial formally completes the separation of MLC from NAB, Money Management reflects back on how the acquisition came to be and where Insignia sees MLC going forward.
The Financial Services Council has made multiple recommendations to ASIC regarding exercising its powers around AFSLs to mitigate the risk of failing companies including greater capital requirements.
Advice licensee Centrepoint Alliance has announced a service partnership with self-managed superannuation fund solution provider SuperConcepts.
The Compensation Scheme of Last Resort says it has received over 200 claims for compensation relating to personal financial advice since its inception and detailed the specific recurring issues being raised by claimants.
