Victorian brokerage Adroit Insurance and financial planner Armstrong Hills have merged to create a financial services business in Ballarat.

The venture combines general insurance annual gross written premium of more than $10 million with a financial planning and life practice with more than 400 clients.

Adroit MD Andrew Locke says the merger fits with his group’s strategy of complementing its general insurance presence with financial services.

The insurance business will continue to trade under the Adroit brand and model.

Four staff from Armstrong Hills have joined 10 Adroit staff in Ballarat, Mr Locke told insuranceNEWS.com.au.

“We see that the recent legislative changes introduced into the financial space may lead to consolidation in the industry and to acquisition opportunities.” 

Adroit is hoping to add a financial services presence in each of its nine branches in Victoria and is keen to grow through further acquisitions, he said.