Equity Trustees completes OAMPS Super acquisition
Equity Trustees has completed its acquisition of the OAMPS Superannuation Fund.
The company said completion of the acquisition had been achieved on Monday with Equity Trustees chairman, Tony Killen, describing it as “part of our step growth in the superannuation sector and a great bolt-on to our existing master trust business”.
His sentiments were backed by Equity Trustees managing director Robin Burns, who said it would provide further strength to the company’s superannuation offering and its overall wealth management and funds management business.
The OAMPS Super Fund has around $265 million in funds under management and around 27,000 members.
AUTHOR
Mike Taylor
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
