WHK acquisitions continue
By Darin Tyson-Chan
Listed financial planning and accounting business WHK Group , formerly known as Investor Group, has continued its strategy of expansion through acquisition with the addition of three practices.
Included in the latest round of acquisitions is Colenso Financial Planning, the affiliated financial advisory arm of Colenso Accounting that was brought into the WHK Group on October 1, 2005, and integrated into the operations of WHK Day Neilson.
The newly purchased financial planning practice currently has $16 million in funds under advice and will boost the member firm’s revenue by $50,000.
Melbourne-based accounting firm Ray Clarke & Associates is another new entity to join the WHK Group. It will be merged with WHK Manning + Perry, with a view to boosting the member firm’s financial planning operations with its client base, which includes over 80 self-managed super funds.
This round of acquisitions has also seen the group expand its presence in New Zealand with the purchase of accounting firm Burns McCurrach.
The latest additions to the WHK Group reaffirms the organisation’s aggressive acquisitions strategy initiated in July last year.
Since then, the group has made 12 new purchases that have increased its annualised revenue by $24.2 million.
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