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.

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