Financial advice and accounting group Findex has expanded its Adelaide footprint with the acquisition of accounting, tax and SMSF firm Wakeful Partners.
The purchase is part of an ongoing mergers and acquisitions strategy to expand the group’s national footprint and the provision of its services to individuals, families and businesses, and will add the capabilities of Wakeful Partners to its existing Adelaide wealth management team.
Wakeful Partners was founded in 2010 and has around 1500 clients across the city, and its two directors, Simon Warner and Toby Oakley, will join Findex as partners on a permanent basis as part of the latter’s wider team.
The transition of the firm’s staff into Findex’s systems and processes will take place over the next 12 to 24 months, but its clients will maintain their existing adviser relationships.
Findex co-chief executive Tony Roussos stated the acquisition was part of plans to have a greater presence in markets where clients wanted more connected advice.
“We’re pleased to welcome Wakeful Partners to the Findex network. They’ve built exactly the kind of firm we want to back – deep client relationships, a trusted team and a strong presence in a market that matters to us,” Roussos said.
“Adelaide has long been an important market for Findex and this is a deliberate move to provide a more complete local offering to individuals, families and businesses. For clients, this means continuity of trusted advice, supported by the broader expertise, scale and resources of the Findex network, while bringing experienced partner-leaders and specialist capability into our operation.”
Warner added the decision to join Findex was a natural step for the firm and its clients.
“Toby and I built the firm based on the foundations of strong client relationships, technical care and practical advice. This next chapter in joining Findex will allow us to keep delivering that same trusted service, while giving our clients access to a broader range of expertise and support,” he said.
“Our clients will continue to work with the advisers they know, now backed by the scale and specialist capability of a national network.”
Jason Spits
SENIOR JOURNALIST
Jason is a senior journalist with Benchmark Media and writes for the selfmanagedsuper website and magazine and smstrusteenews website. He has covered financial services since 1999 and has written about life insurance, superannuation, investment management and financial advice, in both a freelance and in-house capacity, and also did a brief stint as a media manager for an industry association. He has been the editor of trade titles Money Management and Financial Standard, and was most recently senior journalist with life insurance title Riskinfo.
Articles by Jason