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Non-aligned licensee makes acquisition

Spring Financial Group has completed the acquisition of an advice boutique specialising in service provision to medical professionals.

Pink Diamond Financial Group (PDFG) has been subsumed into the Spring FG business, following the recent acquisition and its advisers are now operating under the Spring FG banner.

PDFG specialises in servicing clients in the medical profession, according to a statement from Spring FG.

“Key members of the PDFG team bring with them a specialist skill set in servicing medical professionals that adds real value across the company,” said Spring FG managing director Keith Cullen.

“And the PDFG client base will now benefit from significant increases in resources, easier access to our advisers through our offices in all Eastern-seaboard capital cities, and broader expertise across a range of financial advice, investment and tax specialities.”

The licensee has also made public its acquisition of Sydney-based Moneytree Partners Group from earlier this year.
Former Moneytree managing director Frank Paul is now head of advice services at Spring FG.

Spring FG entered into an EU with ASIC in late 2013 after an experience with a rogue authorised representative.