Prime Financial Group Ltd has settled the first part of its expansion plan for combined accounting and wealth management investments.
In a statement to the Australian Stock Exchange (ASX), Prime announced that it had invested in "progressive Melbourne-based accounting and advisory firm, MPR Group".
The statement reported that Prime had commented to 20 per cent of MPR, and the establishment of a wealth management entity utilising Prime's client engagement model.
"Prime's investment in MPR Group will support their significant growth plans and the Prime team looks forward to assisting to build out their client offering and business under the leadership of MPR Group managing director, Matt Murphy," the statement said.
"The investment in MPR Group is part of Prime's plan to increase the number of combined accounting and advisory investments incorporating wealth management JVs".
