SMSF adviser logo

SFG aiming for SMSF expansion

By Tim Stewart
October 01 2013
1 minute read

SFG Australia is looking to expand the SMSF capability of recently-acquired Lachlan Partners across the entire group.

The financial services firm is also continuing to “actively canvas” appropriate mergers or acquisitions, according to SFG managing director Tony Fenning.

In SFG’s annual report, released last Friday, Mr Fenning said the company was looking to acquire companies that “complement SFG Australia’s strategic direction or expand our capabilities and scale”.


The wealth management firm recently added $25 million to its St George debt facility in order to fund further tuck-in acquisitions, following its purchase of Lachlan Partners, Parkside, W Corp and ITS in the 2012/2013 financial year.

Lachlan Partners was the most significant addition to the group for the year, adding 59 accountants and financial advisers across offices in Melbourne, Sydney and Brisbane.

The acquisition has boosted SFG’s SMSF capability, given that Lachlan Partners currently administers around 450 DIY superannuation funds and provides advice to more than 2,000 SMSFs.

In the ‘Looking ahead’ section of the annual report, SFG outlined its plans to build Lachlan Partners as well as integrate it across the entire business.

“[The Group intends to] roll out self-managed superannuation services, tax and accounting and other services over time to the whole Group,” said the report.

“We are proactive in looking for strategically attractive transactions that can deliver value for our clients, our people and our shareholders,” said Mr Fenning.

The company will also be keeping a close eye on the competitive landscape in financial services to identify changes in market sentiment, behaviour or competitors that could threaten its business model, said the report.

SFG’s reliance on financial advisers and accountants is another identified risk, which the group says it mitigates through a meritocratic work environment.

“The Group has a number of incentive plans applicable to different job roles, as well as benefit programs available to all employees and their families,” said the report.