FMP, PCA to merge
Melbourne-based Management Professionals Group (FMP) and PCA Financial Serv-ices have merged.
Melbourne-based Management Professionals Group (FMP) and PCA Financial Serv-ices have merged.
Operating under the existing FMP Group name, the new financial planning company will have funds under administration of $88 million and about 1000 clients.
Included among the services it will offer are lifestyle planning, specialist taxation ad-vice, training programs and superannuation expertise.
Business development manager Bill Featherston says the move combines the two companies’ skills sets, while, at the same time, adds scale.
“We are creating a high profile business that supports small to medium sized ac-counting and legal practices,” he adds.
New directors include Featherston, former Lonsdale representative Jack Pearce and part time lecturer and tax expert Alex Wong.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.