Listed financial planning and accounting business, Investor Group (IGP), will merge four of its member firms into two.
WHK Manning & Perry and Supermaster will become one, as will Launceston’s Garrotts and Hobart’s WHK Denison, in deals which reduce IGP’s number of member accountancy and financial planning firms to 20.
This will almost immediately increase to 21, however, after New Zealand’s Gosling Chapman business enters the fold on April 1.
IGP managing director, Kevin White, said the mergers would create cross-referral benefits that would “far outweigh” the associated relocation, integration and disruption costs.
The mergers were initiated by the principals of the various firms.
An executive reshuffle has also occurred, with Graeme Fowler going from chief financial officer to the newly created role of chief operating officer. He will be replaced by Graeme Ross, who is being promoted from the group financial controller position.
