Ipac continues WA push
Ipachas struck an equity partnership arrangement with RMG Financial Services as part of its foray into the Western Australian market.
Ipac chief executive Peeyush Gupta says a key to Ipac’s future growth is to acquire businesses in Perth and that the group’s resources would help it in acquiring target businesses, and confirmed discussions were taking place with several such targets.
Gupta says the deal provides a long-term succession plan for the principals of RMG Financial Services and with more resources to fast-track growth.
“Ipac’s Equity Partner Program offers advisers in the industry a clear succession plan, and importantly, enables existing advisers to benefit from growing their businesses until they decide to retire,” Gupta says.
RMG managing director Rob Stone says the partnership will also enable it to add more value to its client relationships and improve its practice management.
RMG is a $150 million business with Rob Stone, John Donald and Patrick Canion the three principals.
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