Trustee Partners acquires Madison

17 April 2018

Superannuation trustee services provider Trustee Partners has continued its expansion into the Australian financial services market, today announcing its acquisition of Madison Financial Group.

Under the agreement, Trustee Partners acquired Madison Financial Group, Wealth Portal, AdviceNet and Proactive Portfolios.

PHAROS Financial Group, which established Madison originally, managing director and cofounder, Mark Perry, said that he had rejected earlier offers for acquisition.

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“Compatibility and a shared vision of the future of advice were our paramount concerns before agreeing to the sale,” he said.

“It was critical that we secured a buyer who is product agnostic, supports our community with a growth and succession mindset, and whose other business interest and acquisition plans are compatible with our values.”

Trustee Partners general manager, Andrew Peterson, said the acquisition would strengthen the business’ strategic vision to use innovative financial advice and services to improve investment and retirement outcomes in Australia.

“Madison Financial Group’s desire to lead and deliver solutions that enable advisers to spend more time delivering advice to their clients is invaluable to our growth plans in the financial services market.”

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