Subscribe to our newsletter

Aura Group acquires financial planning boutique

Aura Group acquires financial planning boutique

Reporter
— 1 minute read

Corporate advisory firm Aura Group has taken a majority stake in Sydney-based self-licensed financial planning business Accountable Financial Group.

Aura Group, which has offices in Sydney and Singapore, has made an offer to acquire Sydney-based Accountable Financial Group (AFG).

AFG provides SMSF, insurance and investment advice and was launched in response to the 1 July 2016 removal of the accountants’ exemption.

“[AFG] allows accountants to continue offering SMSF and superannuation advice to clients by offering multiple solutions ranging from minimum regulatory training requirements, a licence which allows accountants to offer bespoke advice authorisations, including general, limited and comprehensive advice solutions,” said a statement.

Aura Group managing director Calvin Ng said he was attracted to the firm’s almost $1 billion in funds under advice and access to SMSF investors.

AFG director Tony Zulli said the Aura Group's investment was a "testament" to AFG's business model.

"We believe there is terrific growth potential for AFG as accountants continue to be the trusted advisers to their clients' money.

"While financial advice has not traditionally been the role of the accountant, we offer a full suite of products and services which allows accountants to take on this role and believe popularity and demand will only increase with time. We are excited at the prospect and the investment in our business by Aura Group,” Mr Zulli said.

 

Aura Group acquires financial planning boutique
investordaily image
ID logo

related articles

promoted stories