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Macquarie to shut down Risk Advice Specialists

Macquarie to shut down Risk Advice Specialists

Scott Hodder
— 1 minute read

Macquarie has decided to close wholly-owned financial planning subsidiary Risk Advice Specialists, with authorised representatives now searching for a new licensee.

A Macquarie spokesperson has confirmed to InvestorDaily that the company has made the decision to close the dealer group after setting up the business in December 2011.

"Following a careful review of the market opportunity, a decision was made to close the Risk Advice Specialists offering and assist the small number of advisers to transition to another licensee," the spokesperson said.

"This does not impact any other Macquarie businesses and is not a core offering for Macquarie’s retail operations. Macquarie continues to offer life insurance to clients through our financial advice business and life insurance business."

More to come.

 

Macquarie to shut down Risk Advice Specialists
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