WHK acquisitions continue

financial planning financial planning practice self-managed super funds

15 February 2006
| By Darin Tyson-Chan |

By Darin Tyson-Chan

Listed financial planning and accounting business WHK Group , formerly known as Investor Group, has continued its strategy of expansion through acquisition with the addition of three practices.

Included in the latest round of acquisitions is Colenso Financial Planning, the affiliated financial advisory arm of Colenso Accounting that was brought into the WHK Group on October 1, 2005, and integrated into the operations of WHK Day Neilson.

The newly purchased financial planning practice currently has $16 million in funds under advice and will boost the member firms revenue by $50,000.

Melbourne-based accounting firm Ray Clarke & Associates is another new entity to join the WHK Group. It will be merged with WHK Manning + Perry, with a view to boosting the member firms financial planning operations with its client base, which includes over 80 self-managed super funds.

This round of acquisitions has also seen the group expand its presence in New Zealand with the purchase of accounting firm Burns McCurrach.

The latest additions to the WHK Group reaffirms the organisations aggressive acquisitions strategy initiated in July last year.

Since then, the group has made 12 new purchases that have increased its annualised revenue by $24.2 million.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 3 weeks ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 3 weeks ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 3 weeks ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

1 week 2 days ago

The Reserve Bank of Australia's latest interest rate announcement has left punters disheartened on Melbourne Cup Day....

1 week 1 day ago

The Federal Court has given a verdict on ASIC’s case against Dixon Advisory director Paul Ryan which had alleged he breached his director duties....

1 week ago