ClearView has completed its takeover of Matrix Holdings, with 100% acceptance from the dealer group’s shareholders.

Matrix investors will receive $4.407 in cash and 8.776 ClearView shares for each share they hold. The deal will amount to $7.75 million cash and 15.4 million shares.

ClearView MD Simon Swanson says 100% acceptance is pleasing.

“We believe there is a great cultural fit between the two companies and the merger will create increased shareholder value in the long term,” he said.

“The merger of a quality dealer group with ClearView Financial Advice will be instrumental in achieving our goal of building a major financial advice and financial services business that is not aligned to any major institution.”

The combined business will have 214 advisers, while the Matrix brand will be retained.