Aura acquires dealer group
Dealer group, Australian Capital Financial Planning (ACFP) has been acquired by the Craig Mowll-led Aura Group.
Aura announced today it had acquired 100 per cent of the shares in ACFP as part of its continuing strategy to build an Australia-wide financial planning network.
It said the acquisition followed on from its acquisition of Accountable Financial Solutions and TK Advisors over the past 12 months.
Australian Capital Financial Planning has 27 authorised representatives in all eastern seaboard states and in South Australia – something which brings Aura Group to almost 100 authorised representatives nationally.
Commenting on the acquisition, Aura Funds and Wealth Management managing director, Craig Mowll said ACFP complemented the firm’s other wealth management and professional services businesses.
“We are very excited about acquiring ACFP, the advantage our value proposition has for financial planners is that they have access to a group of services covering Funds Management, Legal, Accounting, Property, Lending and Wealth Management,” he said.
Recommended for you
Pinnacle’s London affiliate, Life Cycle Investment Partners, has secured over $15 billion in FUM in its first year and achieved profitability, the firm’s fastest affiliate to do so.
For foreign fund managers looking to come to Australia, a financial services law firm has shared which regulatory option offers them the quickest pathway?
Betashares has partnered with a US fund manager to form a private capital division aimed at providing financial advisers and wholesale clients with private markets investments.
GQG Partners has lost over US$1 billion from an institutional client, contributing to FUM falling by US$6 billion in July, as it flags fund underperformance could lead to continued outflows.
