Fiducian Group (ASX:FID) franchise aquires $56m in FUA

Company News

by Rachael Jones

Fiducian Financial Services, the financial planning subsidiary of Fiducian Group (ASX:FID) has facilitated the acquisition of a regional financial planning business for its franchise office located in Gippsland, Victoria.

This adds a further $56 million in Funds under Advice.

It is expected to add to the total Funds under Management, Administration & Advice of over $7.1 billion (as at 31 March 2020).

Following this acquisition, their Sale and Traralgon offices will merge and with greater scale will be able to continue to provide high quality strategic financial planning services much needed in the Gippsland region at this time.

Shares in Fiducian Group (ASX:FID) are trading 1.6 per cent lower at $4.25.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.