Asset and wealth manager Prime Financial Group is looking to M&A and technology for future growth after growing its funds under management (FUM) by 58 per cent in FY25.
Prime reported underlying EBITDA of $11.9 million in its 2025 financial year results, a 17 per cent increase on the prior corresponding period.
The group also saw significant growth in FUM during the financial year, with FUM increasing 58 per cent up to $1.9 billion for the 2025 financial year.
Prime Financial Group managing director and chairman Simon Madder said the increase in FUM was a combination of growth in assets and the acquisition of research business Lincoln Indicators, which added $600 million in FUM.
It follows other acquisitions in recent years, including the acquisition of SMSF administration provider Intello in October 2022, alternative asset management firm Altor Capital in February 2024, and Equity Plan Management in July 2024.
“Our client numbers have also grown. We now have an additional 3,300 high-net-worth investors that are now part of our firm by virtue of the Lincoln acquisition,” he said.
Prime Financial plans to continue to expand through mergers and acquisitions, which Madder said would complement the group’s organic growth strategy of delivering more value and services for clients under the one roof.
Madder said the group was well-funded for its growth ambitions after securing an additional facility with Westpac last year, which was increased from $24 million to $41 million.
“We’re also enhancing our ability to deliver more value and services for our clients by virtue of a dedicated sales and account management program, which is important for uncovering all the needs of our clients,” he said.
Prime also undertook a major technology review during the financial year, which is set to move into an implementation phase, focused on data consolidation including implementing a groupwide CRM and a pilot AI program.
“AI is widely publicised as being transformative. We’re making sure that we’ve done the reviews, we’re preparing our team and ensuring that our clients are able to interact with us in the way that they want to,” said Madder.
Prime will also seek to deepen its capability for business owners in terms of funding growth, succession, and accounting.
The transfer of intergenerational wealth represents a significant opportunity for Prime Financial, according to Madder.
“Intergenerational wealth and business transfer is a decade-long opportunity and we want to make sure that we are positioned for that,” he said.
Plans to double revenue in three to five years
The wealth management group also has ambitious plans to double annual revenue to $100 million within three to five years. Prime Financial previously set a goal in 2022 of doubling its revenue by FY 2025, when its annual revenue was $26 million.
Revenue for the 2025 financial year was $50 million, while run rate revenue exceeded $55 million.
Madder said this was a material milestone, with the group surpassing its three-year goal.
“We remain committed to doubling revenue again to $100 million within three to five years at an underlying EBITDA margin of 30 per cent and believe we have the foundations in place to achieve this,” said Madder. “We would like to thank our team, clients, partners, and shareholders for their ongoing support and contribution to this positive result.”
Madder also noted that 70 per cent of the group’s revenue is recurring in nature, making the group’s earnings profile more stable.
