Snowball acquired Melbourne-based Jeena and named it Shadforth. Now the decision has been made to combine the two operations under a single entity and evolve into a "medium-sized high net wealth style" group.
The renaming of the firm was approved by the shareholders at the company’s annual meeting.
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Speaking on the new changes being implemented in the firm, managing director Tony Fenning and Eric Dodd, chairperson of the firm, echoed the same sentiments and told shareholders that acquisitions will be part of the growth strategy.
"It is the clear intention of Snowball that we aim to proactively participate in this consolidation for the benefit of clients, advisers, employees, business partners, and shareholders alike," said Dodd.
"We’re looking at picking up quality client bases and advisers that are maybe exiting the industry or finding the going on a stand alone basis pretty hard. There’s a lot of interest in that," added Fenning.
SFG is a non-aligned client focused financial advice and wealth management firm, which offers a range of wealth management services to high net worth and affluent clients.
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