Equity Trustees forms Private Wealth Solutions business
Equity Trustees has combined its superannuation and private clients business units to form Private Wealth Solutions.
The forming of the combined business was confirmed by the company while releasing its full-year results to the Australian Securities Exchange (ASX), with Equity Trustees managing director Robin Burns saying the division would be headed by Geoff Rimmer.
"We see this as a significant step towards our long-term strategic goals," he said.
Burns said the new division would come into effect from the beginning of August.
The Equity Trustees ASX announcement revealed a 2 per cent increase in net profit after tax to $8.2 million.
Equity Trustees chairman Tony Killen said the profit maintained earnings per share of around 97 cents, which would translate into a fully franked full-year dividend of 85 cents.
"In this climate we are happy to support shareholders with a continuing high dividend payout ratio," he said.
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