Rabo Financial Advisors (RFA) head Colin Williams will join Hillross and continue to head the business after the completion of the takeover.
"Colin Williams has agreed to come across and continue to run that operation," Hillross managing director John McMurdo told InvestorDaily.
"We think Colin has done an excellent job at RFA and we are delighted to have him as part of our extended team."
Hillross announced last Friday that it would acquire RFA and enter into a referral partnership with Rabobank.
RFA will be rebranded as part of the takeover and will adopt the Hillross name. All 40 employees will be retained.
The takeover price was not disclosed for competitive reasons, but a spokesperson for Hillross said it was in the single-digit millions.
RFA has planners in nine of Rabo's 50 branches and Hillross is planning to expand the business.
"We will definitely look to expand it, there is no question about that," McMurdo said. "Just how many and over what time we need to determine."
McMurdo will also look to add new products to RFA's existing range, including separately-managed accounts, risk insurance, self-managed super fund and direct equities products.
RFA has been using a white label version of BT Wrap and the business will continue to use this system after the acquisition.
