POWERED BY MOMENTUM MEDIA
SMSF administrator acquired by Prime Financial
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.”
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
Australian Ethical has named its new head of equities, who previously spent 12 years at Perpetual.
The country’s sovereign wealth fund has unveiled a flurry of changes to its leadership team, including the appointment of a key executive role.
With Damian Graham stepping into a new capacity within the $190 billion super fund ahead of his retirement, a global search is set to commence for his replacement.
Cbus has swiftly promoted Leigh Gavin to chief investment officer only months after naming him deputy, as the fund works towards growing in size and bringing its investment expertise in-house.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
