Genesys Wealth Advisers has announced it has taken a stake in Victorian firm Murray Valley Financial Planning.
Genesys said the transaction brings its total equity investment to over $21 million through 15 investments in 13 member firms.
Genesys Group chief executive Greg Kirk said the investment was an example of the group’s equity model successfully applying to smaller regionally-based practices.
The Genesys Equity Model (GEM) involves taking an equity interest in select practices. This ‘minority;’ interest provides practice owners with access to capital while still maintaining control of their business.
Murray Valley Financial Planning said the capital from the Genesys Group will allow a succession plan to be implemented, growth opportunities to be explored and provides an opportunity for the firm’s major referral source, Poole and Associates, to take an equity stake in the business.
