Merger sees further growth for Qld advice group
Queensland-based financial advice business Highfield Group has again grown its planner footprint via a merger with Ausure Financial Services.
The company announced that Ausure had merged with Insight investment Services, part of the Highfield Group which also owns Futuro Financial Services.
It said the merged group would trade as Insight with the merger being part of Highfield’s ongoing strategy to build scale and stay ahead of the market.
The company said in a statement that Highfield Group’s authorised representative numbers would grow to more than 140 nationwide and the group’s funds under advice to more than $2.5 billion.
It said the transaction was settled via an equity swap in Futuro and Insight.
Futuro founding director and managing director Paul Kelly will lead the combined group.
The announcement said key Ausure management and staff, including managing director Callum Mitchener and general manager Jeff Haydn, had come across to supplement the existing Insight and Futuro management team with Mitchener joining the boards of Futuro and Insight to provide additional expertise.
Haydn would take on the role of Insight General Manager.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
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 the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
