Snowball Group's unwavering appetite for merger and acquisition activity remains consistent despite bad market conditions, adding $700 million in funds under advice in the past financial year alone.

At yesterday's annual general meeting, Snowball managing director Tony McDonald said the group's net debt, which represents $2 million, and its enhanced bank facility meant the group is well placed for growth.

The group's past financial year buying spree not only added more than $700 million to its funds under advice, it's also expected to contribute $2 million in annual earnings before interest, taxes, depreciation and amortisation (EBITDA) in the next financial year.

A number of buying opportunities are in the pipeline, McDonald said, including the purchase of a Brisbane based financial planning business which should be completed later this year.

"We see this climate as fostering exciting opportunities for Snowball in the context that our scale, efficiencies, diversified business and proven merger and acquisition strategy all contribute to our capacity and readiness to increase our footprint in what continues to be growth industry, ripe for further consolidation," said McDonald.

The latest Rainmaker Research found financial planning group merger and acquisition strategy is alive and well, with $17 billion in funds under advice changing hands in the past six months.

The report identified a number of smaller groups which included Credit Suisse, Mercer Wealth Solutions, Austock and Snowball as businesses busily consolidating over that time frame.

In October, Snowball subsidiary Outlook Financial Solutions and Big Sky Credit Union signed a joint venture agreement to create Big Sky Financial Solutions to tap into the mining rich towns of South Australia, Western Australia and Queensland.