Fiducian Financial Services has snapped up a financial advice firm in Gippsland, Victoria.
The name of the acquired entity or the financial terms of the transaction were not revealed.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The deal adds $56m in funds under advice to Fiducian’s books.
Commenting on the acquisition, Fiducian head of business development and distribution Jai Singh said: “We continue supporting our trusted network of Fiducian financial planners to expand, even when most of Australia is in an unfortunate lockdown situation.
“Following this acquisition, our Sale and Traralgon offices will merge and with greater scale be able to continue to provide high quality strategic financial planning services much needed in the Gippsland region at this time.”
At the same time, Fiducian said that its advisers are working offsite and catering to customers from home due to the Covid-19 global health crisis.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFiducian Financial Services is the financial planning arm of Fiducian Group.
Fiducian Group offers a range of services such as funds management, investment, superannuation, financial planning as well as wealth management services, among others.
The firm has been on an acquisition spree to expand its financial planning network and the latest deal conforms to this strategy.
In 2018, Fiducian Financial Services acquired another financial planning firm in Victoria advising A$160m ($115m) of funds.
