AMP withdraws from Ironstone acquisition
AMP has withdrawn from its bid to acquire a share of specialist residential property funds management group Ironstone.
Ironstone principal Sean Preece confirmed to Money Management this afternoon that negotiations with AMP which began in mid-February had been discontinued.
Preece said the company was now reviewing its options.
AMP is understood to have entered into the negotiations with Ironstone as part of a broader strategy to drive further into the self-managed superannuation funds advisory market allied to its recent acquisitions of both the Super IQ and Multiport businesses.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
