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Fiducian buys Sydney-based financial planning business

ASX-listed financial services licensee Fiducian Group has acquired a Chatswood financial planning practice for its franchise network.

The unnamed Chatswood practice was bought for $1.25 million, with integration into the wider Fiducian already underway.

The practice currently has $60 million in funds under advice and the transaction was completed on 1 July this year.

"A lot of operational activity has occurred to ensure a smooth transition for the quality financial planners joining the Fiducian team. We also want to ensure minimal disruption to the advice proposition for clients," Fiducian head of business services Jai Singh said.

"The business is established, has a quality client base and its experienced team is a valuable addition to the existing Fiducian network which has similar views on providing value-added holistic financial advice."