Yellow Brick Road in trading halt, signals deal with major insto
Yellow Brick Road (YBR) has entered a trading halt and signalled it will soon announce a distribution deal with a major Australian financial institution, reported to be Macquarie.
In its announcement to the Australian Securities Exchange, YBR said it was aware of media speculation concerning a potential distribution deal with a major institution, adding the company expected to make an announcement before Friday.
"In the meantime the company requests a trading halt effective immediately under listing rule 17.1," YBR said.
The Australian reported earlier today that Macquarie was the bank in question, but this has not officially been confirmed by either company.
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.
