In a statement to the ASX, Fiducian said $46 million will be absorbed in its South Perth office while $27 million will be advised from a franchise office in a yet-to-be-named location in Western Australia.
It said the announcement is a continuation of an ongoing strategy to expand its financial planning network for those who can benefit from Fiducian’s holistic financial planning processes, and supports further expansion of Fiducian in WA.
Fiducian head of business development and distribution Jai Singh said he’s “excited to have this financial planner and their team join the Fiducian network”.
“Our proven compliance process and systems for financial planning will support the financial planners involved in this project to grow our WA footprint,” Mr Singh said.
Fiducian’s total funds under management, administration and advice is $6.46 billion.
And in other news I presented 1 financial plan today….. really this deal / ariticle is a non-event, simple self promotion.
Wow , someone is buying practices in this market . Must be a firesale
Or a cracking business? Good FP businesses make strong returns…
People will always value good advice. Bargain. I’d be paying 5 times.
Lol 5 times EBITDA?
If you are suggest 5x revenue then I know a lot of people willing to sell to you haha.