MFS confirms Centro proposal
Diversified financial services group, MFS Limited has confirmed to the Australian Stock Exchange today that it has made a specific proposal to become the independent responsible entity for 35 unlisted closed in Centro property syndicates.
MFS said that it had made the announcement in light of general market speculation and media reporting and said that it had made “a specific proposal to a range of Centro entities for an MFS entity to become the independent Responsible Entity only of approximately 35 unlisted closed end property syndicates”.
The company said that it had on a number of occasions previously taken such an appointment as a new Responsible Entity in similar circumstances.
It said that the proposal only related to a potential role as independent Responsible Entity and did not relate to any real estate acquisitions from the Centro Group.
MFS declined to comment further on its proposal.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.