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03 9598 8002 / Sandringham
Demerger Of Financial Wisdom From Commonwealth Bank

Demerger of Financial Wisdom from Commonwealth Bank

To give personal financial advice in Australia, you must hold an Australian Financial Services License. Vista Financial Group is authorised to provide financial advice under the Financial Wisdom license, which is a wholly owned subsidiary, and part of the wealth businesses of the Commonwealth Bank.

On Monday 25 June, Commonwealth Bank has announced steps to demerge their wealth businesses, into a new, separate financial services company called CFS Group.

The CFS Group will include CFS Global Asset Management, Colonial First State, and the self-employed financial advice businesses which includes Financial Wisdom. If approved, the demerger is expected to complete in 2019.

It’s important to note that Vista Financial Group will continue to operate as its own business that is part of our local community now and post the Financial Wisdom demerger from the Commonwealth Bank. This change will also not impact your financial plan or any investment and insurance arrangements that are part of your portfolio.

If you have any concerns or questions about this announcement, please contact us on 03 9598 8002.

From our end, it’s business as usual and we remain committed to helping you and your family achieve your financial goals.

Want more information?

Contact us on 03 9598 8002 or email us.

Chris Carrol, George Hlawaty, Sonia Dallimore, Tyson Roberts, Joel Fyson  and Vista Financial Group are authorised representatives of Financial Wisdom Limited ABN 70 006 646 108, AFSL 231138, a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.

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