WHK acquisitions continue
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 firm’s 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 firm’s 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 organisation’s 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.
Recommended for you
Clime’s disposal of advice licensee Madison “needed to happen yesterday”, managing director Michael Baragwanath has told Money Management, as he concludes a severe cost-out period at the business.
As Viola Private Wealth continues on its growth trajectory, the wealth management firm has appointed a seasoned investment professional to be its first chief investment officer.
Financial advisers who wish to implement artificial intelligence in their practices need to undergo a change in their mindset as to how they use technology.
With United Global Capital expected to constitute a substantial portion of CSLR compensation in FY25–26, what has AFCA ruled in its determinations on the company so far?
