Genesys merges existing advice firms
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Genesys Wealth Advisers is facilitating the merger of two of its member firms, Finsec Planner and Fivepoint. The merger will create one of the largest Genesys planning firms, with nine advisers and $250 million in funds under advice.
The new member firm, operating under the Finsec name, will receive an injection of equity from Genesys to drive future expansion. The merger will also allow Finsec to leverage off Fivepoint’s relationship with accounting firm mhm.
Genesys chief executive Greg Kirk said the merger would allow them to add scale to their advice businesses and tap into a larger pool of resources. Genesys has invested more than $27 million in its member firms using its equity model.
It was looking at 10 further transactions with a potential value of more than $20 million, Kirk added.
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