Bendigo Wealth recently purchased Melbourne-based boutique planning practice AIM Financial Services, representing the first financial planning acquisition for Bendigo and Adelaide Bank’s wealth management arm.
AIM will immediately rebrand as Bendigo Financial Planning and will be integrated into Bendigo Wealth’s standard financial planning offering, Bendigo stated.
Bendigo Wealth’s head of wealth markets Alex Tullio said the acquisition was the first step towards increasing the ability of the bank’s fee-for-service financial planning division to better service its 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,” she said.
AIM’s 1600 customers across two sites will be progressively introduced to the Bendigo style of banking, according to the firm’s principals Michael Duncan and Martin McGrath.
