Matrix acquires two more practices
Independently-owned dealer group Matrix Planning Solutions has acquired two new financial planning practices, both Sydney-based, in an effort to further its long-term growth strategy.
The practices are Rolanda Adams Financial Services, which is based in Sydney’s Darling Point and focuses on providing clients with investment and gearing-related wealth creation strategies, and Emjay Financial Services, which is based in the Sydney suburb of Bankstown and focuses on ‘end-to-end’ solutions across all financial planning services.
Matrix, which has about $2.4 billion in funds under advice and about $31 million in in-force premiums, plans to acquire a further 15 to 20 quality financial planning practices by 2010. The dealer group currently has 80 financial advisers across Australia and aims to grow this to about 120 advisers.
A spokesperson said a number of other planning practices are expected to partner with Matrix in the next few months.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
