SMSF administrator acquired by Prime Financial

5 October 2022
| By Laura Dew |
image
image image
expand image

Advisory group Prime Financial Group has acquired Gold Coast self-managed super fund (SMSF) administrator Intello.

 

This would see Prime’s SMSF division represent 20% of group revenue and enhance the firm’s position as Australia’s largest SMSF administrator.

 

Including Intello, it provided services to over 4,000 SMSF accounts and was looking to grow this significantly.

 

The two firms said the acquisition would bring about material opportunities to deliver SMSF services for accounting and financial advisory firm intermediaries for its clients.

 

It would also help Prime to reach its target to double group revenue over three years from $26 million in FY22 to $50 million through organic and inorganic activity.

 

Intello chief executive, Kevin Nicol, would remain at the firm 12 months to support the team and clients.

 

Simon Madder, chairman and managing director, said: “We have a dedicated team of professionals and structure that is highly scalable and resourced for growth which combined with a material pipeline presents our team and firm with opportunities for accelerated growth.”

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 5 months ago
Kevin Gorman

Super director remuneration ...

1 year 6 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 6 months ago

Treasurer Jim Chalmers has hit back at critics of the Division 296 super tax changes, saying it shows commentators’ aversion to substantive tax reform....

5 hours ago

BlackRock has reduced its exposure to Australian and European equities in favour of emerging markets....

5 hours ago

Australia’s superannuation funds are on track to post another year of strong performance, with the median growth fund returning an estimated 9 per cent for the 2025 finan...

5 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3