Centrepoint acquires ClearView advice business

Centrepoint Alliance has agreed to purchase ClearView's advice business including ClearView Financial Advice, Matrix Planning Solutions, and LaVista Licensee Solutions.

The new entity will represent more than 1,300 advisers including 490 licensed and 813 self-licensed, as well as the firm's technology suite like Enzumo adviser technology customisation, Lumen compliance monitoring, and Compass planning software.

ClearView managing director and CEO Simon Swanson is expected to join the Centrepoint Alliance board when the sale is completed at the end of October.

Centrepoint CEO John Shuttleworth said, "We are delighted to welcome ClearView Advice and its high-quality, well-branded adviser network to Centrepoint Alliance. Our acquisition of ClearView Advice will transform Centrepoint Alliance by boosting our financial scale and delivering new compliance and technology capabilities which are highly complementary to our existing business.

"The acquisition creates a powerful combination of complementary intellectual property, skills, experience and balance sheet access, setting the platform to participate in further organic and strategic transactional growth as industry disruption continues."

OIn a statement, a ClearView spokesperson said, "The deal with Centrepoint Alliance provides the combined entity with immediate scale, a strong and effective management team, best of breed technology and processes and the capability to take a market leading position in the financial advice industry to build a strategically successful and profitable financial advice business.

"It further allows ClearView to indirectly participate in the industry consolidation (given structural market changes) and at the same time separate its product manufacturer and financial advice arms."

Swanson has been managing director of ClearView Wealth for more than 11 years. He previously has held managing director roles with CommInsure, Sovereign, and Colonial Fiji.