Financial Index acquires Nevett Ford
|
|
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.
AUTHOR
Mike Taylor
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
