A national financial advice firm added its third office, acquiring an advice business on the New South Wales Central Coast.
Eureka Whittaker Macnaught purchased Ken Mann's Regional Financial Solutions practice, complementing its existing presence in Sydney and Brisbane.
Eureka Whittaker Macnaught chief executive Greg Cook said he is delighted with the acquisition, with the business experiencing strong growth - both organically and through acquisition.
"Our strong balance sheet allows us to make these acquisitions with little risk and practice principals like Ken know our acquisition process will be very professional, their clients will be in great hands, and their legacy respected," Cook said.
"Ken's business is a great fit for us, and we believe we can roll out a wider value proposition to the clientele. Ken and I have known each other for 25 years. As with getting advice - it's great to deal with someone you know and trust."
Mann will assist with the business transition, introducing clients to the new team, before retiring.
In 2013, Eureka merged with Whittaker Macnaught and in 2015 became the founding Australian firm of AZ Next Generation Advisory. It has since grown to nine financial advisers in a team of 21 employees.
Cook described the firm as a financial services hub, with strong connections to mortgage brokers, accountants and lawyers.
"This approach allows the business to take care of the complete financial needs of all our clients, while also providing opportunities for business clients to partner with industry professionals in a business capacity," he said.