Perpetual wins TRU vote

The shareholders of The Trust Company (TRU) voted in favour of Perpetual’s proposal to acquire the business at the group’s Scheme Meeting on Thursday, knocking out rival bids from Equity Trustees and IOOF Limited.

Close to 80 per cent of eligible TRU shareholders voted in favour of the scheme resolution.

A second court hearing to approve the Scheme is scheduled for December 3, TRU said in a statement to the ASX.

Perpetual chief executive Geoff Lloyd said the vote symbolised a significant milestone, which would bring together two highly complementary businesses with a shared fiduciary and service heritage.

“Today’s vote approving the scheme will bring us closer to delivering significant benefits for both sets of shareholders, as well as The Trust Company’s clients and employees,” he said.

 

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Beyond the numbers: Advice that makes the invisible visible

Beyond the numbers: Advice that makes the invisible visible

The benefits of good advice go far beyond money management, and this is reflected in the evolving role of advisers, according to new research by Russell Investments. Professional Planner, in partnership with Russell Investments, assembled leading advice professionals to discuss the less visible, more intangible aspects of advice, such as reassurance, peace of mind and confidence, and how to accurately price for these outcomes.

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