Australia-based Finsure has agreed to buy major stake in Spectrum Wealth Advisers as part of its expansion strategy.
The deal follows Finsure’s acquisition of Mortgage Choice’s LoanKit business in August last year.
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Spectrum Wealth had more than 200 authorized representatives offering a range of financial services.
John Kolenda managing director Finsure said: "The addition of Spectrum Wealth Advisers makes Finsure one of very few aggregators with a stake in a privately owned dealer group.
"This improvement in capability and overall expertise will enable us to offer better solutions for our customers. Being able to have more than one financial service provided by their accessible broker is simpler and more convenient, and when you take into account the financial advice is not conflicted, it all adds up to a win-win for clients," he added.
Financial terms of the transaction have not been disclosed.
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