Mawson offers equity
The Mawson Group will this year offer its advisers the chance of an equity stake in the group, according to chairman Peter Johnson.
The Mawson Group will this year offer its advisers the chance of an equity stake in the group, according to chairman Peter Johnson.
A new company, the Advisor Equity Corporation, has been established to this end. It will be operational in the first half of the year, Johnson has told Money Man-agement.
The group has also established Mawson Asset Management, which owns all of the group’s assets, such as its master trust and other badged products.
“These companies provide the catalyst for the new era in financial advising in line with our philosophies,” Johnson says.
Meanwhile, the group’s Victorian and Tasmanian operation is bedding down its merger with Lifeguard Group. Victorian-based Lifeguard, which had 18 advisers, merged with The Mawson Group (Vic/Tas) on January 1, citing concerns about the cost of CLERP 6 compliance.
“We are (Mawsons) well and truly structured for the changes. We have had a bro-ker licence for three and a half years and about 18 months ago got our dealer’s li-cence. We have all the pieces in place,” Johnson says.
Lifeguard’s managing director Andrew Webb will continue with the group.
The deal brings the number of Mawson advisers in Victoria to about 80, and na-tionally to about 600.
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