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Fiducian acquires two advice firms

Fiducian Group has announced it acquired two financial planning businesses, bringing the company’s total funds under management, administration and advice to $4.95 billion.

According to a statement, Fiducian has executed two separate agreements to acquire advice firms in north-east Melbourne and Gippsland, Victoria.

The names of the advice firms were not disclosed in the announcement.

The acquisitions are a continuation of Fiducian’s strategy to expand its financial planning network.

Fiducian manager for distribution and business development Jai Singh said, “We support trusted financial planners who fit our corporate culture with development capital to build their businesses.

“These opportunities have expanded the network into geographic areas not previously serviced by Fiducian and should support returns to shareholders.”