Quadrant and Tasplan enter into heads of agreement
Tasplan and Quadrant have entered into a heads of agreement to see if a merger of funds would bolster superannuation services to the members and employers of both funds.
The entity would have about 115,000 members and over $3 billion in funds under management should the merger go ahead.
Tasplan's chair Naomi Edwards said the funds would bring complementary aspects to a merger.
"Improved product range and quality, and expansion of services to all regional areas of Tasmania, are key considerations," she said.
Quadrant chair Brent Armstrong said a merger would benefit not only Tasmanian members but the broader community.
"A larger, stronger Tasmanian superannuation fund ensures that we retain employment and expertise within the state and maintain important local connections with our communities," Armstrong said.
Recommended for you
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.
With just 30 per cent of Australians knowing their superannuation balance to the nearest $1,000, Findex has emphasised the role of financial advice in addressing the critical super knowledge gap.
New Insignia Financial CEO Scott Hartley has detailed the impact of the Godfrey Pembroke exit and the progress in resetting its financial advice model on its latest quarterly results.