Snowball to merge with Shadforth
Snowball Group Limited and Shadforth Financial Group Holdings Limited have announced their intention to merge.
The boards of the two groups announced the initiative to the Australian Securities Exchange (ASX) today.
The announcement said the merger would be effected by a takeover bid made by Snowball to acquire all the ordinary shares in Shadforth.
The merged entity will adopt a new head company brand.
AUTHOR
Mike Taylor
Recommended for you
Integrated wealth and financial services group Rethink has launched a financial planning arm called Rethink Wealth to expand beyond property investing and into holistic wealth management.
The shift in scale and consolidation has led to substantial growth in large privately owned licensees, which have tipped past 20 per cent of advisers for the first time to make up 28.3 per cent of the industry.
ETF providers Betashares and BlackRock are reporting increased flows for currency hedged vehicles, but an adviser has warned on the potential tax implications of changing currency.
Bravura chair Matthew Quinn is to step down later this year, following the exit of CEO Andrew Russell, while its future priority is digital advice in Australia.
