Snowball group continues to expand corporate super business
|
|
Snowball Group has continued to expand its corporate super business, acquiring the corporate super business of Thornton Group. The business is based in Adelaide and has approximate $28 million of funds under advice.
Snowball has not taken on any employees of Thornton Group in the acquisition. The business will be run by staff from the newly-acquired corporate super business Hood Sweeney, also based in Adelaide. Hood Sweeney was acquired in early March. The business will run under Snowball’s subsidiary, Outlook Financial Solutions.
“This transaction builds on our presence in the Adelaide corporate superannuation market following the recent acquisition of Hood Sweeney and reflects our desire to be recognised as the pre-eminent provider of corporate solutions to Australian companies and their employees,” said Snowball managing director Tony McDonald.
Recommended for you
A former Sydney investment manager has pleaded guilty to two counts of insider trading regarding a potential takeover of Platinum Asset Management, having acquired $2.6 million of Platinum shares.
As the firm enters a new growth phase, Orbis Investments managing director Jason Ciccolallo has said it is looking to strengthen relationships with retail advisers to align with the firm’s institutional reputation.
The former director of United Global Capital has received a decision from the Administrative Review Tribunal regarding an appeal of his 10-year ban from providing financial services.
AMP-owned North has announced a senior manager appointment as the platform explores growth opportunities in its addressable adviser market.
