Infocus/PATRON merger finalised
Infocus shareholders have unanimously backed the company’s recently pitched merger with fellow independent advisory PATRON.
Formalising the merger, the vote will see the national wealth manager’s adviser numbers rise to 200 and operate across 120 offices across Australia.
Commenting on the move, Infocus managing director, Rod Bristow, said “'We are very pleased the merger has been formally approved. The similarities between the Infocus and PATRON businesses and advice philosophies were striking - providing a great foundation for a successful future”.
“Our national Adviser network now operates in all states and territories except the Northern Territory and Tasmania, and we have corporate offices in Brisbane, Sydney, Melbourne, Perth and the Sunshine Coast. This provides us with great reach to support our Advisers in both regional and metropolitan locations,” he added.
AUTHOR
Staff Writer
Recommended for you
Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.
With 66 per cent of newly established advice licensees being sole advisers, what are the risks and legal ramifications to consider when taking the plunge into self-licensing?
Despite its popularity, only 1 per cent of financial advisers say they have often discussed cryptocurrency with clients, CoreData said, fuelled by concerns of heavy legal expenses if the product goes wrong.
AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme.
