Fiducian Group has announced it acquired the clients of another financial advice firm, who will be serviced by the group’s salaried advisers in the area.
In a statement to the ASX, Fiducian said it executed an agreement to acquire the Melbourne-based client base, which brings $17 million in funds under advice.
The clients will be managed by existing salaried advisers who work in the respective areas.
Fiducian did not name the business it bought from as a matter of policy, the statement said.
The latest acquisition continues Fiducian’s strategy to expand its financial planning network.
“This acquisition adds further scale to our existing salaried presence in Melbourne and also provided ongoing new client opportunity, due to an existing quality referral source within the business being acquired,” said Jai Singh, manager for investment projects.
“The vendor is retiring and sought a credible acquirer who could continue to deliver holistic financial planning advice.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 16 Mar 2018CBA CEO pushed for FOFA extensionBy James Mitchell and Aleks Vickovich
- 16 Mar 2018CPA dealer group clashes with FASEA requirementsBy Katarina Taurian
- 16 Mar 2018NAB launches virtual assistant for superBy Staff Reporter
- 15 Mar 2018IFA-focused platforms open to new strategiesBy Staff Reporter
- 15 Mar 2018Deakin eyes advisers to fill staff demandBy Killian Plastow
- 15 Mar 2018Adviser Innovation Summit 2018 agenda announcedBy Staff Reporter
- view all