Strategi takes over Adviserlink's business
Melbourne-based Mentor Education took over Adviserlink’s business in June after Adviserlink was put into liquidation following an application by Inland Revenue. According to the first liquidator’s report by the Official Assignee, Adviserlink owes just under $460,000.
Mentor Education general manager David Cairns said the need for scale was the main reason the company decided to enter the merger only a couple of months after it took over Adviserlink’s business.
“That’s the major issue; we do have real issues in New Zealand with the number of AFAs. Trying to get a business to support the advisers or at least the advisers who want to be professional is very difficult.”
Cairns said he would continue to work for the new company and would look after the “back end” while Strategi, as the face of the business, would look after the “front end”.
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