Financial Index Wealth Accountants is set to acquire Crowe Horwath Australia, following the group’s acquisition of Centric Wealth.
The two companies announced they had entered into an agreement in a statement to the ASX, in which it was revealed that Findex will acquire all of the shares in Crowe Horwath by way of a scheme of arrangement.
“Findex has long had a strategy of growth through acquisition. Our highest profile transaction is that of Centric Wealth,” said Findex chief executive Sprio Paule in a separate statement.
“This transaction only occurred after much due diligence and consideration from our experienced mergers and acquisition team. The purchase of Centric Wealth was the right step for the business, our staff and clients and will see the brand maintain its privately-owned and non-aligned status," said Mr Paule.
“We look for businesses with the right strategic and cultural fit for our group. Any future acquisitions will follow this same course. We are undertaking due diligence with Crowe Howarth and have exclusivity until 30 July.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 17 Oct 2018Private banking has no place for bad advisersBy Eliot Hastie
- 17 Oct 2018CBA admits failure to tackle conflicted adviceBy James Mitchell
- 16 Oct 2018NAB to address advice issues in $314m payoutBy Eliot Hastie
- 16 Oct 2018Former BT exec joins mortgage and financial advice groupBy Reporter
- 16 Oct 2018ANZ under fire over ‘conflicted’ IOOF dealBy James Mitchell
- 16 Oct 2018Advisers should be early call in divorce casesBy Adrian Flores
- view all