Ipac expands regional push
Financial planning groupIpac Securitieshas increased its stable with the integration of two new groups in regional areas of New South Wales (NSW) and Victoria.
Newcastle-based planning firm Wealth Managers will now be integrated into Ipac’s existing operations in the coastal city, bringing total funds under management for the practice to $100 million.
Previous Wealth Managers principal Ken Whitehead will now move into a planning role within the Newcastle office.
Meanwhile in the Victorian cities of Werribee and Geelong, Ipac has struck an equity partnership with investment company ClientCare Australia, and plans to provide succession planning to its principals and assist in its growth strategies.
With around $65 million in funds under advice, ClientCare Australia plans further growth through a local acquisition backed by Ipac’s Equity Partnership program, which the group says encourages “sensible business expansion”.
Since the launch of its Equity Partner Program around two years ago, Ipac chief executive Peeyush Gupta says the group has completed over 10 deals.
Under the Equity Partner Program, financial planning firms are provided with the Ipac business system, cash up-front, and a formula to purchase the remainder of the business at a time of the principals choosing.
Elsewhere,AXA Australiacontinues to work on rolling out the Ipac financial planning model in Asia, while the group also recently opened its first Brisbane based office.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
