SFG Australia has entered into a binding agreement to acquire wealth management and accountancy group Lachlan Partners, adding 55 advisers and accountants to the group.
Lachlan Partners is an integrated accounting, tax, financial advisory and business advisory group based in Melbourne, Brisbane and Sydney.
In a statement, SFG said the move “significantly enhances SFGA’s capability to synthesise accounting, tax, and business advisory, and Lachlan Partners’ in financial advice and implementation solutions.”
It also enhances the group’s exposure to self-managed super fund clients, with Lachlan Partners administering approximately 450 SMSFs, and SFGA providing advice to more than 2,000 SMSF clients, according to the statement.
The acquisition adds around $606 million in funds under advice to SFGA’s $10.8 billion. It leaves SFGA with more than 160 advisers and accountants.
Lachlan Partners’ business partners, accountants, advisers and employees will remain with Lachlan Partners and join SFGA and Lachlan Partners co-founder and managing director Philip Pezzi will join the SFGA executive management team.
The Lachlan Partners brand will remain the same and “there will be minimal changes to the day to day operations of the client facing businesses of Lachlan Partners,” the statement read.
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