TFS Financial Planning acquires advice business in Cairns
TFS Financial Planning has acquired Cairns financial planning business Gowdie Financial Planning. The acquisition has added more than $130 million in funds under advice to the business, as well as boosting its staff numbers by eight. ipac has a 76 per cent shareholding in TFS.
“ipac has seen an increase in acquisition opportunities in recent months as some princpoals reassess their personal goals. Pressure on the balance sheets of some advice businesses has also led to increased interest from principals who want to unlock capital through ipac’s equity partner program. We have a number of opportunities to expand our businesses across Australia through acquisition,” said ipac head of business partnering John Saint.
The principal of Gowdie, Vern Gowdie, will continue in the business.
Ipac has completed 40 acquisitions since 2000.
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