Nervous MLC advisers contemplate alternatives

mlc limited KKR Apogee Godfrey Pembroke

14 July 2020
| By Mike |
image
image
expand image

Nervousness around the speculated private equity ownership of MLC Limited has seen a number of aligned financial planning businesses open up discussions with rival licensees.

A number of dealer group heads have confirmed the receipt of overtures from planning businesses currently operating under the remaining MLC licenses, including Godfrey Pembroke.

MLC earlier this year announced a consolidation of its financial planning licenses with the retirement of the Apogee, Garvan and Meritum brands and the launch of a new license under the TenFifty Financial Group.

Godfrey Pembroke is currently claiming 140 “financial advice specialists” across the business.

Recent reports have suggested that private equity giants such as KKR are vying for ownership of MLC but there have been question marks over their level of interest in the financial planning elements of the business.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

3 days 13 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 1 day ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 3 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

2 days 11 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

1 day 14 hours ago