ING takes Sentry stake
ING Australia has entered into a strategic partnership with Sentry Financial Group that carries with it an option for ING to take a 37 per cent stake in the dealer group and a seat on the Sentry board.
The deal was announced today by Sentry chairman and chief executive Murray Hills, who said ING Australia would support the dealer group with funding and resources to support its business objectives, which include an aggressive national growth strategy.
For its part, ING Australia is describing the move as part of its strategy to extend its distribution footprint.
The Sentry Group is made up of 81 advisers with funds under management of around $1.1 billion.
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