Infocus acquires fourth advice business
The so-called "Succession Plan" put in place by dealer group Infocus Wealth Management in 2014 has seen it now acquire four advice businesses and take a 50 per cent stake in a fifth.
Infocus chief executive, Rod Bristow, confirmed the latest advice business acquisition this week, explaining that it reflected the implementation of the "Succession Plan" strategy which had been developed to give advisers within the group an exit strategy.
"With so much change continuing to happen across our industry, we felt it important to ensure advisers had an option ‘on the table' from Infocus as their business partner if they wanted to exit the industry or bring on a partner to help fund further growth," he said.
Bristow said he believed the strategy was a natural complement to the company's dealer group operations and helped to diversify the group revenue model.
He said that in the last 18 months, Infocus had acquired two advice businesses in Melbourne, one in south-east Queensland and one in Townsville.
The business in which Infocus had acquired a 50 per cent holding is also located in south-east Queensland.
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