An email from Beacon managing director Peter Daly to close stakeholders, seen by InvestorDaily, announced the merger, explaining the transaction will take effect from 1 July.
Mr Daly said the creation of a larger entity will have a number of benefits for advisers licensed by both brands, such as increased financial security, immediate economies of scale and diverse income streams, with 54 mortgage brokers already operating within the group.
The combined group will have approximately 270 authorised representatives across Australia.
Under the terms of the agreement, Libertas will retain its branding and licence, with minimal disruption to advisers and other stakeholders, Mr Daly said.
In April 2015, Beacon acquired Risk and Investment Advisers Australia (RIAA) in a deal with similar terms.
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