A boutique financial advice group has acquired a Parramatta-based firm focused on risk advice.
Profile Financial Services has acquired Orion Financial Group, a risk-focused advice practice established 35 years ago in Parramatta.
The Orion Financial Group team comprises founders Igor and Jennifer Loutkovsky, and their daughter, senior financial adviser Sacha Loutkovsky.
Their passion for insurance advice and looking after clients before all else has seen the business grow strongly over the years, with a substantial client base now established around Australia, Profile said.
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Explaining the decision to join the Profile business, Igor said: "It's time to start looking forward to the next chapter of my life - I'm not getting any younger."
"We were in the final stages of negotiation when our previous licensee, Aon, announced they were exiting the advice market, so the timing was good."
Profile Financial Services chief executive Sarah Abood said the firm is always looking to work with advisers with a client-first ethos and that can benefit from scale, investments in technology and a team-based approach.
"Although we've been wealth focused, we're also big believers in the importance of personal insurance to clients," Abood said.
"This transaction will bring our business greater scale in this area, as well as a specialist team with a deep understanding of client's needs and the best strategies and providers to meet those needs."
Profile Financial Services has been slowly but surely growing in recent years, making its last acquisition in August 2018.
The business took over GROW Super co-founder Mathew Keeley's practice, Churpa Wealth.
It also added to its Mudgee practice in February of this year, appointing former J.P. Morgan Asset Management head of institutional Stephen Alcorn to the role of associate adviser.