Yellow Brick Road confirms deal with Macquarie
Yellow Brick Road (YBR) has confirmed it has entered into an agreement with Macquarie Bank to develop branded banking and wealth management products and services.
The announcement came hours after YBR requested a trading halt from the Australian Securities Exchange (ASX), due to a pending announcement about the deal.
Both companies announced the deal on the ASX, which was marketed as YBR's "aggressive expansion into financial services".
The company is launching discounted mortgage products, with more wealth management and banking solutions to come in 2013.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
