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November 11, 2011updated 04 Apr 2017 3:47pm

Snowball acquires Australian wealth management firm Jeena

Snowball Group, an Australian non-aligned client focused financial advice and wealth management firm, has acquired the Melbourne-based wealth management firm Jeena which provides family office services to high net worth clients.

By BBR Staff

Established in 1991 by Pranlal Jeena the firm provides services to a number of wealthy families, managing approximately A$55 million in total invested funds under advice.

It works on a fee for service based model and offers revenue and expense synergies, as well as growth opportunities for the Group.After the takeover Jeena will be re-branded to Shadforth and its staff will be integrated into Shadforth’s Melbourne office.

Snowball is also in the process of rebranding to SFG Australia Limited after shareholder approval has been achieved.

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