Equity Trustees forms Private Wealth Solutions business
Equity Trustees has combined its superannuation and private clients business units to form Private Wealth Solutions.
The forming of the combined business was confirmed by the company while releasing its full-year results to the Australian Securities Exchange (ASX), with Equity Trustees managing director Robin Burns saying the division would be headed by Geoff Rimmer.
"We see this as a significant step towards our long-term strategic goals," he said.
Burns said the new division would come into effect from the beginning of August.
The Equity Trustees ASX announcement revealed a 2 per cent increase in net profit after tax to $8.2 million.
Equity Trustees chairman Tony Killen said the profit maintained earnings per share of around 97 cents, which would translate into a fully franked full-year dividend of 85 cents.
"In this climate we are happy to support shareholders with a continuing high dividend payout ratio," he said.
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
