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Advisory groups do a deal

TWO financial and investment advisory groups, Johnson Taylor Potter (JTP) and DFS, changed hands last week.

Bell Securities has effectively rescued JTP by injecting $15 million into the business to acquire a controlling stake.

JTP has 10 offices around Australia and doubled staff numbers to 400 over the past year. It will continue trading under its existing brand name.

International finance group UBS Warburg will retain a minority equity stake in JTP, and will continue its strategic alliance, which involves provision of research and access to floats.

Stockford Limited has agreed to acquire DFS, the financial advisory practice of Deloitte Touche Tohmatsu, for $7.5 million in shares and cash.

This continues Stockford’s rapid growth, based on the acquisition of accounting and advisory groups in Australia and New Zealand, including HLB Mann Judd.

DFS was established to service clients of Deloitte and the business will retain this exclusive relationship, operating from Deloitte offices under the DFS brand.

The group employs 29 professionals, including two in Perth, and has $630 million of funds under advice.

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