Fiducian acquire $40.9 million in FUA
Fiducian Group is acquiring client bases in Perth, Melbourne and the Sunshine Coast to be managed by existing financial planners serving the areas, and providing the company a further $40.9 million in its funds under advice (FUA).
Commenting on the acquisition, Fiducian manager investment projects, Jai Singh, said: “These acquisitions add further scale to our existing salaried presence in Western Australia, Victoria & Queensland.”
“The acquired client bases will be serviced by existing Fiducian financial planners so we are anticipating these acquisitions to be earnings accretive.”
Fiducian has a strong year of performance according to FE Crown Ratings, with the Fiducian Balanced, the Fiducian Growth, the Fiducian India, the Fiducian Technology, and the Fiducian Ultra Growth funds all ranked with five crowns.
Total funds under management, administration and advice for Fiducian now sit at approximately $6.2 billion.
AUTHOR
Hope William-Smith
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