WT Financial Group (ASX:WTL) said its joint venture WTL & MWP Investco has signed a Heads of Agreement to form a new entity, "Hubco," consolidating three financial advice firms, according to a Friday filing with the Australian bourse.
The agreement will bring together Titan Financial Planning, Darwin Financial & Retirement Services, and Wealth Connect Financial Services into Hubco, the filing said.
Titan's owner and Financial Coach David McLean will take on the role of Hubco's Chief Executive Officer, the filing added.
Investco will provide an initial capital of AU$3.5 million, and will hold an initial 36% stake in Hubco, with WTL holding a 6% equity stake in the new entity, the company said.
The deal is expected to close by the end of next month, the company added.
Shares of the company rose 4% in recent Friday trade.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。