The acquisition has brought a new combined entity of WT Financial Group and Synchron to 560 advisers, as per Australian Securities Investment Commissions’ Financial Adviser Register, according to Wealth Data.
WT Financial Group’s acquisition of Synchron will improve efficiencies for advisers, according to chief executive Keith Cullen, as it creates the third-largest financial planning group in the country by adviser numbers.
WT Financial will become the new wealth giant, with funds under advice in excess of $16 billion, following its acquisition of Synchron. Wealth manager WT Financial Group (WTL) announced on Tuesday t
WT Financial Group is confident of future demand in the risk advice industry, backing Synchron’s future with a deal that could be worth up to $13 million, dependent on Synchron retaining advisers and revenue.
WT Financial Group, the ASX-listed parent of Wealth Today, has acquired Australia’s largest privately-owned financial adviser group, Synchron for $7.96 million.