Fiducian acquires SA financial planning business
Fiducian has announced the completion of its acquisition of the financial planning business of People’s Choice Credit Union (PCCU).
The PCCU of South Australia, which provided financial advice to almost 400,000 members, selected Fiducian Financial Services as the successful bidder in November.
In an announcement on the Australian Securities Exchange (ASX), Fiducian said the acquisition was a continuation of its strategy to expand its quality financial planning business throughout South Australia and lift the network’s funds under advice by $1.1 billion to $4.8 billion.
“The staff of Fiducian and PCCU have worked tirelessly to facilitate a smooth transition of the operations between the two businesses so that the service provided to the clients remains unaffected by the transaction,” Fiducian said.
Robby Southall, executive chairman of Fiducian Financial Services, said: “The acquisition significantly increases Fiducian’s distribution footprint across South Australia.
“We look forward to welcoming People’s Choice financial advisers and support staff into the Fiducian family and are confident of a seamless transition into the Fiducian Family culture where clients’ needs come first.”
AUTHOR
Liam Cormican
Recommended for you
Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply with determinations.
Channel Capital has appointed a head of investment oversight who joins from 14 years at asset consulting firm JANA Investment Advisers.
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
