HUB24 completes Paragem acquisition

financial-planning/mergers-and-acquisitions/australian-securities-exchange/financial-planning-groups/

4 September 2014
| By Mike |
image
image
expand image

Publicly listed platform provider HUB24 has completed its acquisition of financial planning dealer group, Paragem.

The company announced to the Australian Securities Exchange (ASX) today that the transaction had been completed as planned and in line with the terms originally disclosed.

The ASX announcement said HUB24 and Paragem were highly complementary businesses with minimal overlap.

"Together the companies will provide a compelling home for like-minded financial advisers who value choice and the ability to freely run their own business and will jointly work to develop better, more cost effective advice, investment and superannuation outcomes for clients," it said.

Commenting on the transaction, HUB24 managing director, Andrew Alcock said his company had been pleased by the level of engagement and support it had received from Paragem advisers regarding the acquisition.

"The addition of Paragem will support further growth of our platform and assist us with the ongoing development of our core business of providing superior platform offers to financial planning groups, accountants and stockbrokers and their clients," he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks 1 day ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS