Effective immediately, AIM Investment Management will be operating as Bendigo Financial Planning and over the coming months will be fully integrated into Bendigo Wealth’s standard Financial Planning offering.

Alex Tullio, Bendigo Wealth’s head of Wealth Markets said this acquisition is the first step towards increasing the ability of the bank’s fee for service financial planning division to better service their 1.4 million retail customers.

"We’re committed to delivering a meaningful Wealth offering to our customers and the broader market and the acquisition of our first Financial Planning business is an important component in achieving this objective," Tullio said.

Principals of AIM Investment Management, Michael Duncan and Martin McGrath, said through the acquisition, AIM’s 1600 customers across two sites will be progressively introduced to the Bendigo style of banking.

"We’re very comfortable transitioning our customers to an organization that aims to be Australia’s leading customer connected banking group and focuses on building and improving the prospects of our customers and communities," Duncan said.

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