Matrix scopes new course after ending sale process
Dealer group Matrix Planning Solutions has withdrawn itself from sale after announcing more than nearly a year ago that it was seeking expressions of interest.
The company's decision was announced today by Matrix managing director Rick Di Cristoforo, who said the decision had been made despite significant interest from potential buyers.
He said that, instead, the company had come to the view that the offers received had conditions attached that would have been impossible for the Matrix shareholders to accept.
"These conditions would have affected the conduct of our advisers, the operation of their businesses and our collegiate culture," Di Cristoforo said.
He said that in tandem with the decision to terminate the sale process, Matrix had completed a comprehensive business review which had resulted in a refreshment of its business model.
"Specifically, Matrix has refreshed its Adviser Value Proposition by launching a revised dealer group fee model to target established advice businesses and accountant advisers," Di Cristoforo said. "External independent analysis has been utilised to finalise the new arrangements."
He said that Matrix would now be focusing on growth. It had announced a new value proposition for advisers and would be focused on attracting businesses to the model.
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