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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How AI use is reshaping financial advice consumption

How AI use is reshaping financial advice consumption

ASIC’s 2026-27 Corporate Plan and new research by McCrindle touch on the consumer impact of AI-generated financial advice, reinforcing the expression “a little knowledge is a dangerous thing”. Professional advisers are spending an increasing amount of time unwinding beliefs and misconceptions caused by AI and re-educating clients.

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