BBY acquires StoneBridge
Stockbroking and advisory house BBY is set to expand beyond its Sydney and Melbourne base with the acquisition of StoneBridge Group.
BBY has announced it has acquired the StoneBridge private client adviser network – something that will see it expanding its footprint into Perth, Adelaide and the Gold Coast.
BBY said it had signed a sale and purchase agreement with StoneBridge to acquire its private client adviser network, staff and product platforms.
In announcing the move, BBY chief executive and managing director, Glenn Rosewall said the company had previously built market share on the strength of its corporate, research and institutional business, making the StoneBridge buy an important strategic development and the creation of a significant new player in the Australian private client market.
He said it was expected the StoneBridge teams would join BBY towards the end of next month.
Rosewall said the advisers coming across from StoneBridge were providing excellent services in equities and options trading, futures, foreign exchange, contracts for difference and derivatives.
AUTHOR
Mike Taylor
Recommended for you
AZ NGA has partnered with an Adelaide-based accounting and financial planning practice as it expands its presence in South Australia.
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
