Perth-based financial advisory firms Sentry Group and Epic Adviser Services have announced plans to establish a jointly owned group that will have 120 advisers in all Australian states.
Perth-based financial advisory firms Sentry Group and Epic Adviser Services have announced plans to establish a jointly owned group that will have 120 advisers in all Australian states.
The two firms will retain their existing brands but will be jointly owned by a new entity, Sentry Group Australia.
East Perth-based Sentry currently has 33 advisers in WA and 83 nationally while Applecross-based Epic has 37 advisers in WA.
The full text of a joint announcement is pasted below
Tuesday June 19, 2007. Sentry Group Chairman and CEO, Mr. Murray Hills, confirmed today that a Heads of Agreement had been signed by the parent companies of Sentry Financial Services and Epic Adviser Solutions
that will bring the two Financial Services Licensees together, effective from 1st July, 2007.
Epic is a member of the Questus Capital Group and has a network of Financial Advisers with an emphasis on professional CFP/CPA/ICA qualifications providing wealth creation, retirement and protection solutions for private and business clients.
Since inception in 2005, Sentry has attained prominence as a progressive national Adviser group with strong management and a positioning strategy offering an alternative to the shareholder focused Institutional and public company controlled brands.
Under the Agreement Sentry and Questus will have an equity position in a merged entity, Sentry Group Australia, which will own the two AFSL's.
Administration functions will be combined, but each company will continue to operate under their individual licenses.
The number of licensed Corporate and Individual Representatives in the group will be 120 with offices in all mainland States.
Commenting on the merger Mr. Hills said, "Epic's values and commitment to providing Advisers with coaching, professional service and support reflected those of Sentry and contributes greatly to the merger."
Questus and EPIC Chairman, Mr. David Somerville, said "We have been looking for alliance solutions for our Advisers and found that Sentry shared our belief in the non-institutionally aligned, client focused, adviser service
model. The merger allows EPIC Advisers to gain the benefits of the larger group and for the Questus management team to focus on its own innovative and successful businesses.
Mr. Hills was also pleased to welcome Mr. Colin Scott as an Executive Director, and Messrs Somerville and Jamie Kelly as Non Executive Directors to the Board of Sentry Group Australia saying that the combined breadth and depth of their industry experiences would be of considerable benefit to the company and its Advisers going forward.
"We are actively looking to expand and are keen to pursue mergers or acquisitions in the coming months with other like minded businesses.
Additionally we are actively seeking out like minded advisers who will gain benefits from joining our group."
"Sentry's greatest assets are its experienced staff and accessible management team that intimately understand the needs and issues of Advisers. We are committed to providing solutions for Advisers that assist them to profitably run their practices and effectively service the financial and protection needs of their clients," concluded Mr. Hills.
