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PSK acquires wealth firm

Financial advice firm PSK Financial Services has acquired Sydney-based Socius Wealth Management as part of its growth plans.

Socius founder and partner John D'Alessandri said that completing the acquisition amid COVID-19 was challenging.

"What became obvious in the time we were spending with PSK during the process, was that our two businesses were actually very much alike, we hold similar beliefs in many things, and this helped us overcome the obstacles that came up," D'Alessandri said.

"We know we have found a very good home for our clients - equally we are also pleased that all of our staff will be coming across and joining the PSK group which will open a wide range of new opportunities for them - we are all very excited about the move."

PSK managing director Paul Aspros said that part of PSK's growth strategy is to partner with firms that need assistance in the current challenging operating environment for financial advice.

"These are the most difficult times we have ever had to face... it's more important than ever that advisers are able have the best support available to support their clients," he said.

"By joining PSK, we help take away the day to day complexity of running a business, we solve the advisers' succession issues, and with the help of our in-house support services, business development, marketing, paraplanning and investment team, we find advisers and their business' flourish."

Aspros added that PSK is delighted to welcome the founders of Socius on board.

"We feel privileged that after so many years of providing trusted service to their clients, John and Ros have chosen to partner with PSK," he said.

"While I know we will bring some new and exciting things to Socius' clients and staff, we are also looking forward to using the team at Socius' more than 15 years of expertise to learn some things ourselves. We are delighted to welcome John, Ros, the team and all the Socius clients to PSK."

Read more: PSK Financial ServicesSocius Wealth ManagementJohn D'AlessandriPaul Aspros
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