We are delighted to announce that Banks Group has acquired SPC Financial Planning (SPCFP) effective 1 November 2021.
SPCFP owner Claudio Orrico has joined Banks Group as a partner and he has also brought along three additional team members. This includes another financial adviser who will join Banks Group’s wealth management division, BG Private Clients.
As a result of the acquisition, BG Private Clients now has five financial advisers who focus on goal-based holistic financial advice, as well as three specialist advisers who focus on self-managed superannuation funds, risk insurance and aged care.
Wealth Management Partner Rocky Sorrenti says, “This is exciting news for the firm and our clients, as our wealth management team will grow to 17 members which helps provide us with the scale required to continually enhance our client service offerings. In addition to this, the funds under management will grow by $140m to $525m.”
Claudio and his team joined Banks Group at its Hawthorn office on Glenferrie Road on 1 November and will also have a second office at 269 Centre Road, Bentleigh.