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BT picks up $1.1 billion FUA advice firm

A Melbourne-based 17 adviser-strong wealth management firm has joined the BT Select network, seeking better back-office efficiencies.

First Financial, a financial advice firm established last year following a joint venture with Crowe Horwath, has announced it will join the Westpac-aligned group, bringing across 60 staff, 17 financial planners, four lending and finance advisers and its SMSF administration team.

First Financial managing director Chris White said the decision to partner with BT Select was fuelled by the licensee’s “capacity to transition practices”.

“Back-office efficiency is critical for us and BT Select’s approach to embedding experienced staff within our team during this crucial phase is a big plus for us,” Mr White said.

BT Select managing director Phil Butterworth said First Financial “shares many of the key attributes of the existing BT Select community”, anticipating strong growth potential for the firm, including possible “acquisition opportunities”.

First Financial has approximately $1.1 billion in funds under advice and was formerly the financial services division of Crowe Horwath.

BT Select-aligned practices may use BT Select’s licence or maintain their own.