Pacific Rim gets Personal
Pacific Rim Investment is to buy West Australian-based dealer group Personal Financial Plan-ners for $1.75 million.
Pacific Rim Investment is to buy West Australian-based dealer group Personal Financial Plan-ners for $1.75 million.
The acquisition will be funded over three years by a cash payment in the first year of $1 million, and cash/script payments of the balance in the second and third years, subject to the achievement of revenue targets.
Personal Financial Planners is Pacific Rim's second WA purchase in a year. It has funds under advice exceeding $185 million and revenue streams of more than $2.7 million.
Personal Financial planners brings to the group an exclusive wrap account service that will com-plement national distribution.
Pacific Rim’s other Perth businesses of Deakin Financial Planning and The Platinum Group will relocate to the offices of Personal Financial Planners. Both Personal Financial Planners and The Platinum Group will join Money Planners Australia, Mawson (Vic), Deakin Property and Gillon Securities as part of the re-branded Deakin Financial Services Group.
On top of financial planning, Deakin provides residential and commercial property investments, life and general insurance, finance and stock broking.
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