Centrepoint Alliance has cleared a final legal hurdle and completed its takeover of Associated Advisory Practices (AAP).

The Federal Court on Friday cleared the way for shares in Centrepoint to be allocated to AAP shareholders next Monday.

The shareholders approved the deal last week after AAP directors recommended it.

There are two sets of AAP shareholders. Centrepoint offered 1.25 of its shares for each AAP share and 1.16 shares for each AAP (No.2) share.

Centrepoint, which already owned 55% of the dealer group, will issue about 5.6 million additional shares to cover the takeover.

AAP advisers will face restrictions on trading their Centrepoint shares, with 2.8 million in escrow until next April and the remainder until October 2015.