A Fiducian Group subsidiary has reached an agreement to acquire an advice practice in Perth with $73 million in funds under advice.
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.
Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.
You can contact him on [email protected].
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