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Easton Investments to acquire stake in SMSF service provider

Easton Investments to acquire stake in SMSF service provider

Reporter
04 June 2015 — 1 minute read

Financial services firm Easton Investments has agreed to purchase an interest in a financial services business offering financial planning and investment advice, insurance services and SMSF administration.

Easton Investments has entered into an agreement to purchase a 25 per cent stake in Melbourne-based First Financial, a wealth and financial services business with funds under advice of $1.15 billion and which specialises in SMSFs.

The business currently administers more than 500 SMSFs.

“The transaction has immediate effect and involves a cash consideration of $2.376 million, which has been sourced from existing surplus cash reserves,” the ASX announcement said.

According to the announcement, the parties have agreed to execute a shareholders’ agreement which will incorporate, among other things, a put and call option to facilitate an orderly exit where the parties deem this to be in their respective best interests.

Easton Investments to acquire stake in SMSF service provider
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