PIS set to expand in USA/Canada
Professional Investment Services (PIS) is evaluating a number of potential acquisitions in North America following the successful integration of its Canadian operation.
Last year PIS acquired Alberta-based Generation Financial Corporation, which had 107 advisers spread over five provinces with funds under administration of $1 billion, and re-branded it as PIS Canada.
PIS chief executive Robbie Bennetts said the success of this venture had convinced the company it was time to expand.
“We have seen with our Canadian operation that PIS can cut it with the best operations in North America,” he said.
“Another acquisition in Canada or the USA would allow us to rapidly expand operations in those markets while capitalising on the synergies of our existing Canadian group.”
Talks with various possible targets have been initiated, however PIS is yet to decide upon a purchase.
The Australian dealer group also has operations in Hong Kong, Malaysia, China, Singapore and New Zealand.
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