How Easton intends to leverage its Paragem acquisition
The board of Easton Investments has formally recommended to shareholders that they accept HUB24’s proportional offer for the company arguing that it will deliver significant strategic benefits including the acquisition of Paragem meaning that Easton can become a leader in licensee and adviser services.
In target statement documentation released to the Australian Securities Exchange (ASX) Easton described Paragem as a strong strategic fit with Easton’s Wealth Solutions division which provide additional scale to support the development of technology to improve efficiencies and add new revenue generating services.
It said this was consistent with Easton’s strategic direction to become a leading non-institutional provider of adviser and licensee services.
“The strategic relationship with HUB24 is aimed at accelerating growth opportunities,” it said.
“Notably Easton’s plans to compete in the wealth training and continuing professional development market, as well as the potential to grow Easton’s adviser network.”
It said that there was an opportunity for Easton to become a leader in licensee and adviser services as it partnered with HUB24 to deliver efficient, cost-effective solutions and services to financial advisers, accountants and their clients.
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
