Fiducian acquires State Trustees
Fiducian Financial Services has acquired State Trustees' financial planning business for an undisclosed sum.
The acquisition will see the financial planning side of State Trustees' business blend into Fiducian Financial Services, while other services such as legal advice, estate planning and will preparation will remain under State Trustees.
According to both Fiducian managing director Indy Singh and State Trustees general manager sales and marketing, Vicki Hood, the acquisition was a result of the aligned products, values and service standards between the two businesses.
"I see this acquisition as a pleasing result for all stakeholders, including Fiducian shareholders, and certainly the clients of State Trustees who will greatly benefit from the expertise and quality of the Fiducian Financial Planning service offering," Singh said.
Recommended for you
After seven years at the company, Iress’ chief technology officer for wealth management APAC, Anthony Gerrits, has departed as the firm commences a search process to fill the role.
With advice firms thinking about scaling up in 2025, research has detailed the main avenues financial advisers say they have used for successful recruitment.
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
