The votes are in
In a unanimous vote, the shareholders of Lonsdale Financial Group have approved DKN Financial Group’s offer to acquire the company.
DKN shareholders will now need to vote on a number of resolutions relating to both the Lonsdale acquisition as well as its purchase of Zurich’s portfolio administration service business Wrap Account.
Following a court hearing to finalise the Scheme of Arrangement approval process, both acquisitions are expected to be completed on November 14, 2007.
Recommended for you
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 wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
