Hillross Financial Services is acquiring the complete stake of Australian financial firm IRIS Financial Group, Financial Standard reports. The AMP affiliated planning group has not disclosed the financial details of the transaction.
As a part of the deal, the buyer will offer licensee services for all 12 of IRIS’ practices, which will join the Hillross licensee while retaining their self-employed business model. The IRIS’ practices are expected to complete the transition to a fee for service model by the end 2011.
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