Sentry Group has announced it has acquired Australian Finance Group’s financial planning arm, Australian Finance Group Financial Planning (AFGFP).
Sentry’s … adviser strength would be increased to over 310 nationwide
Sentry Group CEO, Murray Hills, said the acquisition of AFGFP would significantly bolster Sentry’s position in the marketplace as the dealer group’s adviser strength would be increased to over 310 nationwide with a total $2.2 billion in funds under advice.
The sale of AFG’s financial planning arm follows a review earlier this year by the mortgage finance business, in which it identified the need to link its planners with a specialist industry partner in the financial planning marketplace.
“The synergy and compatibility of our respective corporate cultures, values and commitment to the long term well being of our advisers and their practices had the greatest influence on our decision to accept the Sentry offer,” said AFG Managing Director, Brett McKeon.
Mr Hills said that in addition to the economies of scale and operational efficiencies, adviser benefits for the combined group also include:
- Access to a broader Approved Product List
- An extensive range of personal and professional development programs
- Innovative client service and retention initiatives
- More efficient compliance support
ING Australia acquired a strategic 37.5% stake in the Sentry Group in 2008.
