The receivers of Moneywise Wealth Management (Moneywise WM) have sold the company's client book, believed to include around 700 clients, to an external third party.
"On 10 April 2012, the receivers and managers sold the company's client book to Stirling Financial Solutions (SFS)," a spokesman for Ferrier Hodgson told InvestorDaily.
"Prior to the sale, the clients were being serviced by Aon Hewitt Financial Advice Limited (Aon).
Following the sale, all clients are now being serviced by SFS under a licence agreement with Australian Financial Services Limited.
"SFS is now responsible for the servicing of all clients. In this regard, clients can contact SFS on 1300 133 316."
SFS is a financial planning and accounting practice based in Dapto, New South Wales.
In February this year, Aon stepped in to service the clients of former authorised representative Moneywise WM, after it went into receivership.
On 12 January, Ferrier Hodgson representatives Brendan Richards and Morgan Kelly were appointed to the Wollongong-based financial planning group after it defaulted on its banking facilities with National Australia Bank, a Ferrier Hodgson spokesperson said.
In a letter to Moneywise clients, Aon Hewitt Financial Advice said as a result of going into receivership, the authorised representative status of Moneywise WM and David McNeice were terminated.
An Aon spokesperson said the company was fulfilling its obligations to Moneywise clients.
