WT Financial Group Limited (ASX:WTL) (WTL, the Company) is pleased to invite shareholders and investors to the WT Financial Group Investor Webinar to be held on Thursday 17 March 2022 at 1:00 pm AEDT / 10:00 am AWST. WTL Founder and Managing Director, Keith Cullen, will expand on the recently announced Synchronised Business Services Pty Ltd (Synchron) acquisition (Acquisition), along with providing a Company update and engaging in a Q&A.
The Acquisition is highly synergistic and accretive to earnings. On settlement of the Acquisition (Completion), which is scheduled to occur this week, the Company’s B2B operations will encompass Wealth Today; Sentry Group; and Synchron - making WTL the largest independent (non-institutionally-owned, non-product producing) advice network in Australia.
Highlights
* Established in 1998 and headquartered in Melbourne, Synchron is Australia's largest privatelyowned national financial adviser group.
* The Acquisition is highly synergistic and accretive to earnings, with WTL providing FY2023 guidance of EBITDA of $7M+ and NPAT of $4M+.
* WTL will emerge as the largest independent (non-institutionally-owned, non-product producing) financial adviser network in Australia - creating significant combined metrics:
-- 600+ total advisers
-- $16Bn+ funds under advice
-- $360M+ in-force annual insurance premium
-- $25M+ new insurance premium sales per annum
* The total vendor consideration for the Acquisition is up to $7.96M, payable over two-years in a combination of cash and shares, and subject to various terms and conditions.
* WTL will assume liabilities of circa $3M and expects to incur transaction and integration costs of between $1-2M bringing the anticipated total value of the acquisition to $12-13M.
For more information, download the attached PDF.
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