Insignia exits JANA stake
Insignia Financial has exited its stake in JANA.
The company has announced to the Australian Securities Exchange (ASX) that it has entered into a binding Share Sale Agreement to divest its remaining 45% stake in JANA to Jana management.
The announcement, contained in Insignia’s quarterly update, said JANA would become wholly management-owned following the transaction which followed the acquisition of a majority stake of 55% of the JANA business from MLC Wealth in 2017.
It said completion of the transaction was expected to occur in early calendar year 2023.
The announcement noted that in addition to the divestment of the minority stake, the Responsible Entity for approximately $7.6 billion in funds under JANA’s implemented consulting offering transitioned to an alternative provider in Q2 FY23.
It said JANA would continue to remain a valued Asset Consultant and provider of investment research for Insignia Financial
FoFA was almost sensible and easily tolerable compared to the 12 years after that. Especially the Frydenberg Kill Advisers 9…
If you've got a Target to increase FUM and a home mortgage and a pregnant partner and you're supervising 20…
Like it would ever happen. The ‘qualified’ advisers will be handling everything and told to keep it all ‘in-house’. The…
It’s a good start but does not go far enough ! The collective charging is certainly an issue that needs…
"Superannuation funds would have a duty to refer members to financial advisers for more complex financial advice when necessary" Rewad…