Wilson HTM Investment Group has entered into a non-binding heads of agreement with Investorfirst to transfer control of the latter's stockbroking and investment advisory activities.

The move is meant to strengthen both firms' core business operations and will help bolster Wilson HTM's focus on emerging and mid cap companies. With the transfer, Wilson HTM increases its research coverage by around 20 firms, bringing the total number of companies under its management to 120.

Nine investment advisors will be transferred under Wilson HTM as a result.

"In transferring to Wilson HTM, Investorfirst's clients, investment advisors and analysts will have the benefit of a larger company, focused on stockbroking and investment advise," said Bruce Higgins, chairman of Investorfirst.

"Investorfirst will now focus on the core activity of the development and commercialisation of the HUB24 investment and superannuation platform," added Higgins.

Wilson HTM Investment Group has A$11.6 billion of funds under management (as at 31 July 2012), according to its website.Wilson HTM has around A$1.4 billion in AuM.