Forbes Fava acquires Melbourne boutique financial planning firm

Forbes Fava Financial Planning (FFFP), a subsidiary of Forbes Fava Saville Financial Planning (FFSP), has acquired Melbourne-based firm Financial Planit, taking “another key step” towards its long-term strategic growth plans for the region.

Founded in 2004 by Anthony Buckley, Financial Planit is a boutique wealth management business providing retirement, superannuation, self-managed super fund (SMSF), risk insurance, and estate planning advice. 

With this acquisition, Financial Planit will be rebranded to FFSP while continuing operations from its Bundoora office.

Notably, this announcement marks the firm’s first acquisition since Forbes Fava Financial Planning and Finanalyze Financial Planning merged in May 2024, expanding the group’s presence to three offices, with the others located in Victoria’s Grovedale and East Keilor.

Speaking on the announcement, FFFP senior financial planner and chief executive Cameron Forbes said he is pleased to welcome the firm into the fold as it eyes future growth opportunities in the region.

“This acquisition represents another key step in our long-term strategic objective to expand the group’s presence in the Victorian marketplace. Financial Planit is an outstanding business with an identical philosophy and culture to us, which made them a natural fit,” Forbes said.

“An immediate benefit for the firm will be access to FFSP’s adviser-driven operational framework that is dedicated to delivering the highest standards of advice, service, capability and capacity, training/professional development, as well as driving efficiencies and growth opportunities.”

Looking at the benefit for Financial Planit, founder Buckley noted the close alignment of the firm’s values and philosophy, as well as his long-term relationship with the firm, making them a well-suited strategic fit.

“Additional strategic drivers to joining FFSP was the need to find the right business partner in order to ensure continuity of service for our clients as well as the need for a succession/exit solution to be in place well before the need to retire is considered”, Buckley said.

“An immediate benefit of the new structure has been the freedom to focus on the key areas I’m good at and where I can add the most value, which is assisting and working with my clients to achieve their long-term financial objectives.”

Meanwhile, Forbes said this acquisition has been a “catalyst for a steady stream of enquiries” from other practices, noting the ongoing trend of consolidation within the advice sector as advisers look to improve efficiency through scale.

“We are not obsessed with growth and remain committed to ‘managed’ growth in order to continue being an intimate organisation that delivers professional financial advice, service, and support on a personal and local level. Looking to the future, I’m confident the FFSP will strengthen its footprint in the Victorian marketplace.”