Genesys invests in Victorian planning firm

genesys-wealth-advisers/chief-executive/

14 January 2009
| By Corrina Jack |

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 1 week ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks 1 day ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

2 weeks ago

One licensee has lost 27 advisers in the past week, now sitting at zero, according to the latest Wealth Data figures....

3 weeks 1 day ago

TOP PERFORMING FUNDS