Centrepoint to acquire Clearview’s advice business
Clearview has entered into a share purchase agreement for the sale of its financial advice business to Centrepoint Alliance for $15.2 million made up of $3.2 million in cash and the acquisition of a strategic 25% stake in Centrepoint.
“The Centrepoint Alliance deal allows ClearView to indirectly participate in the financial advice industry consolidation (given structural market changes) and at the same time separate its product manufacturer and financial advice arms,” ClearView said.
“The acquisition will enable the group to realise strategic value and synergies between the two businesses,” Centrepoint said.
AUTHOR
Chris Dastoor
Recommended for you
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.
