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.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
