MLC takes 100 per cent of Meritum
MLC now holds 100 per cent ownership of financial planning outfit Meritum Financial Group.
National Australia Bank (NAB) announced today that MLC had acquired the remaining equity in Meritum after taking a minority stake as a result of its acquisition of Aviva Australia last year.
Commenting on the transaction, MLC executive general manager of advice and marketing Richard Nunn (pictured) said Meritum would be added to MLC’s network of aligned advice businesses.
He said Stephen Trist, who had been the executive director for distribution and marketing at Aviva, had been appointed as general manager at Meritum.
Meritum boasts over 110 financial advisers with more than $3.5 billion in funds under management and in excess of $45 million in annual insurance premiums in force.
AUTHOR
Mike Taylor
Recommended for you
Charlie Viola, founder of private wealth brand Viola Private Wealth, is confident he can find the “best of the best” when it comes to clients and advisers.
Having a trusted second-in-command to handle daily operations is critical for financial advice leaders who are seeking greater work/life balance, according to an advisory firm.
Wealth Data has revealed the top five licensees for financial adviser growth over the September quarter, with more than 150 advisers joining in Q3 overall.
Former Sydney financial adviser, David Valvo, has pled guilty in court to a charge of dishonest conduct.
