Sealcorp spins off Assirt
Sealcorp has spun off research house Assirt in a complex deal with Course Starter.
Sealcorp has spun off research house Assirt in a complex deal with Course Starter.
Under the terms of the deal Assirt will be housed with the Course Starter services and Sealcorp parent St George will take a stake in the new company.
Initially St George will own 13 per cent of the new group with the option to take its stake to 70 per cent.
The price for the deal has not yet been struck, however, the initial 13 per cent stake represents a $10.1 million cash investment by St George.
St George subsidiary Asgard will keep its close relationship with Assirt through a supplier status.
Course Starter will soon change its name to better reflect the new business struc-ture.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
