Bendigo Wealth acquires boutique practice
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.
Recommended for you
Financial advisers will have to pay around $10.4 million of the impending $47.3 million CSLR special levy but Treasury has expanded the remit to also include super fund trustees and other retail-facing sub-sectors.
Recommendations by the FSC around implementing a practicing certificate framework for advisers would be burdensome and add little value for AFSLs, according to SIAA.
The RBA has made its latest interest rate decision at the the final monetary policy meeting of 2025.
AZ NGA has acquired Sydney-based advice and wealth management firm Financial Decisions, allowing its CEO to step back and focus on providing advice.
