WT Financial flags ‘corporate acquisition’
After last week’s flurry of financial planning mergers and acquisitions activity, WT Financial Group has entered a trading halt pending an announcement regarding a “corporate acquisition”.
The company which acquired Synchron and Sentry announced the trading halt on the Australian Securities Exchange (ASX) late on Monday morning asking that it remain in palce until the commencement of normal trade on Wednesday.
The company markets itself as being “amongst the very largest of financial adviser networks in Australia – with a network of more than 400 advice practices collectively dealing with more than 100,000 clients – and having in excess of $16 billion of assets under advice; annual in-force personal insurance premiums of more than $360M; and new insurance premium sales for circa $25M annually”.
The company’s annual general meeting is scheduled for Friday.
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