Risk and Investment Advisers Australia (RIAA) and Beacon Financial Group have announced the companies will merge in July.
Under the terms of the merger, RIAA will join the Linchpin Capital group of companies – Beacon’s parent company – which will now have more than 200 advisers across all mainland states.
However, RIAA will maintain its licence and brand, becoming the second AFSL operating within the Beacon group, the other one being Financial Link.
“The merger is a very positive move for our business and its advisers,” RIAA managing director Grant Scalmer said.
“What it will mean is that our advisers will be part of a much larger network, with access to greater resources and an improved range of services.”
Beacon managing director Peter Daly said the addition of RIAA will provide both additional scale and expertise to the company.