Fiducian grows Melbourne client-base
Publicly-listed vertically integrated financial services group, Fiducian Group Limited has further expanded its planning footprint with another acquisition.
The company announced to the Australian Securities Exchange (ASX) this week that it had entered into an agreement to acquire a further financial planning client base for a total consideration of around $700,000.
The company said the transaction, involving a Melbourne-based business, would be funded by excess cash and would be managed by existing salaried financial planners who currently service the respective areas.
The ASX announcement said the acquisition continued Fiducian’s strategy of expanding its planning network to build scale.
“This acquisition adds further scale to our existing salaried presence in Melbourne and provides ongoing new client opportunity,” Fiducian manager, Investment Projects, Jai Singh said.
He said the vendor of the client base was retiring and had sought a credible acquirer which could continue to deliver holistic financial planning advice.
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.
