Infocus nabs another advice business
SMSF service provider Infocus Wealth Management yesterday announced it has acquired another financial advice business.
Infocus acquired Performa Financial Services Pty Ltd under its ‘group succession plan,’ according to a media release from the firm.
Performa Financial Services also has an SMSF advice offering, according to its company website, as well as a range of other retirement-oriented services.
According to Infocus, the ‘group succession plan’ began in 2014 in response to adviser demand for an exit strategy within the two AFSL holders operated under Infocus Wealth Management.
Since then, Infocus has acquired four advice businesses as well as 50 per cent of a fifth advice business.
“This has been part of group strategy for some time. It is a natural complement to our extensive national dealer group operations; helps advisers who are seeking to exit the industry or bring on a partner to help fund further growth; and allows us to diversify our group revenue model,” said Rod Bristow, managing director and chief executive of Infocus.
“With so much change continuing to happen across our industry, we felt it important to ensure advisers had an option ‘on the table’ from Infocus as their business partner if they wanted to exit the industry or bring on a partner to help fund further growth,” he added.