Merger sees further growth for Qld advice group
Queensland-based financial advice business Highfield Group has again grown its planner footprint via a merger with Ausure Financial Services.
The company announced that Ausure had merged with Insight investment Services, part of the Highfield Group which also owns Futuro Financial Services.
It said the merged group would trade as Insight with the merger being part of Highfield’s ongoing strategy to build scale and stay ahead of the market.
The company said in a statement that Highfield Group’s authorised representative numbers would grow to more than 140 nationwide and the group’s funds under advice to more than $2.5 billion.
It said the transaction was settled via an equity swap in Futuro and Insight.
Futuro founding director and managing director Paul Kelly will lead the combined group.
The announcement said key Ausure management and staff, including managing director Callum Mitchener and general manager Jeff Haydn, had come across to supplement the existing Insight and Futuro management team with Mitchener joining the boards of Futuro and Insight to provide additional expertise.
Haydn would take on the role of Insight General Manager.
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
