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Financial Index Australia (FIA) has acquired 50 per cent of Ballarat-based financial planning practice Nevett Ford Financial Services, with an agreement to acquire the remaining 50 per cent over the next three years.
Nevett Ford has more than $250 million in funds under management and represents one of 12 acquisitions completed by Financial Index Australia over the past year.
Nevett Ford advisers John Ives and Tracy Burns will remain with the business throughout the transition.
FIA chief executive Spiro Paule said the group has been growing through acquisition since its inception in 2001 and has acquired close to 40 practices over that time.
FIA acquired the Storm Financial client book from administrators in June last year. The client list had remained relatively stable after a few hundred people initially elected not to receive further advice from Financial Index or to make other arrangements, Paule said.
