Sentry unveils expansion plan
Sentry Financial Group has unveiled a new corporate structure and strategy intended to “make it one Australia’s top 20 dealer groups within three years”.
From next month, Sentry will be comprised of “three distinct but complementary” operating subsidiaries: Sentry Financial Services Group, Sentry Financial Planning Group and Sentry Finance Brokers.
These three subsidiaries will drive a planned expansion of its operations into all Australian states and double its current size by number of advisers and income by 2011, according to chief executive Murray Hills.
The expansion is planned to take advantage of the opportunities deriving from the “imminent departure into retirement of baby boomer practice principals and advisers”, Hills said.
“Our marketplace offering is particularly attractive to financial services practices and accounting firms seeking a partner that will assist them to grow their existing businesses.
“Our model will improve their operational efficiency and profitability, implement appropriate succession structures and grow their respective adviser/distribution networks.”
Hills added that Sentry is currently in negotiation with “many organisations” and will announce the “first of a number of significant acquisitions early in July”.
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