IOOF to take over Plan B
IOOF has entered into an agreement whereby it will acquire all ordinary shares of Plan B, which is also the majority owner of My Adviser.
The move will add $2.2 billion to IOOF's funds under management via Plan B's internally managed platform.
The all-cash offer of $0.60 per share represents a 33 per cent premium to Plan B's closing share price on 12 July 2012 of $0.45 per share, according to a statement released to the Australian Securities Exchange.
Recommended for you
Recommendations by the FSC around implementing a practicing certificate framework for advisers would be burdensome and add little value for AFSLs, according to SIAA.
The RBA has made its latest interest rate decision at the the final monetary policy meeting of 2025.
AZ NGA has acquired Sydney-based advice and wealth management firm Financial Decisions, allowing its CEO to step back and focus on providing advice.
State Street is actively seeking to launch ETFs in the Australian government, corporate and high yield bond space next year in order to capitalise on the phase-out of AT1 hybrids.
