Investor Group expansion rolls on
Investor Groupis continuing its acquisitive expansion push after agreeing in principle to buy specialist financial planning firm Investor Care in a move that adds to the spate of recent purchases by the Melbourne-based firm.
Investor Group, through its 18 underlying accounting member firms (all offer financial advice) and three specialist planning practices, has now acquired nine companies to merge into its member companies over the past six months according to group managing director Kevin White.
And the deal to procure Investor Care, a Melbourne-based financial planning, accounting and tax firm, adds to the recent acquisition of Sydney-based tax-accounting company Greenwood BKT and a push late last year into Queensland through the purchase of accounting and financial planning business TCM Partners.
Investor Group plans to merge the latest sign-up with Victoria-based Prescott Consultants, formerly Spectrum Group, to form an expanded adviser business, which will have close to $500 million in funds under advice, and a focus on fully servicing the self managed superannuation space.
Like its new parent, Investor Care offers a badged version of BT Wrap Essentials and its addition to the group will push the overall assets through this vehicle from $740 million to $880 million.
“This tuck-in/integration acquisition is consistent with the group’s on-going growth strategy relating to the expansion of individual core member firms by selective acquisition of smaller businesses within respective geographic areas,” White says.
In March last year the group also acquired four firms from the failed Stockford business - Adelaide firms Accumulus and Sanderson Blair, Sydney-practice Williams Hatchman & Kean, and Curtis & Thomas and Stewart Ruge & Walsh in regional Victoria.
Recommended for you
A strong demand for core fixed income solutions has seen the Betashares Australian Composite Bond ETF surpass $1 billion in funds under management, driven by both advisers and investors.
As the end of the year approaches, two listed advice licensees have seen significant year-on-year improvement in their share price with only one firm reporting a loss since the start of 2025.
Having departed Magellan after more than 18 years, its former head of investment Gerald Stack has been appointed as chief executive of MFF Group.
With scalability becoming increasingly important for advice firms, a specialist consultant says organisational structure and strategic planning can be the biggest hurdles for those chasing growth.
