Two licensees form new dealer group
The parent companies of Sentry Financial Services and Epic Adviser Solutions have signed a heads of agreement to bring the two licensees together under one dealer group, Sentry Group Australia.
According to the agreement, administration will be combined, but each company will continue to operate under their individual licenses, with both parent companies sharing an equity position in the merger.
From inception, the new dealer group will have 120 financial advisers representing it in every mainland state. However, Sentry Group chairman Murray Hills said Sentry Group Australia would be pursing acquisitions as a means of expanding.
“Additionally we are actively seeking out like-minded advisers who will gain benefits from joining our group,” he said.
“We are committed to providing solutions for advisers that assist them to profitably run their practices and effectively service the financial and protection needs of their clients.”
The agreement will take effect from July 1.
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.
