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Posts tagged with Centric Wealth

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Findex adds a third arm as it takes financial planning online

Fresh from its successful bid for financial planning business Centric Wealth, Financial Index Wealth Accountants (Findex) has launched an online advice offering. Called Movo, the launch gives Findex presence in three key advice market segments: the high-net-worth segment through Centric; the mid-market through the Findex brand, which includes a telephone-based…

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Retention key to acquisitions as Findex offers financial planners an alternative to institutions

The days of Financial Index Wealth Accountants (Findex) flying under the radar are long gone. An acquisition reportedly worth $130 million will tend to do that. Over the past 10 years, Findex has averaged four to five acquisitions a year. The Findex team has become adept at identifying potential targets,…

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Centric board green-lights takeover bid

Long-running ownership uncertainty surrounding financial planning group Centric Wealth has ended after its board unanimously approved an 8.9c-a-share takeover bid from Financial Index Wealth Accountants. The founder and chief executive officer of FIWA, Spiro Paule, said in a statement that “the combination of the two businesses creates one of Australia’s largest,…

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Findex to acquire Centric Wealth

Financial Index Wealth Accountants (“FIWA“ or “Findex”) has entered into a Bid Implementation Agreement (“BIA”) with high net worth advisory firm Centric Wealth Ltd (“Centric Wealth”), under which Findex has agreed to acquire all outstanding ordinary shares issued by Centric Wealth by way of an off-market takeover bid (“Offer”)*. Under…

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ASIC works the web

Financial planning firm, Centric Wealth, has commended the Australian Securities and Investment Commission’s crackdown on false advertising from insurance websites. Centric Wealth’s joint head of group risk and corporate benefits, Roy Agranat, said the online insurance industry had mushroomed with the development of new technology, however many consumers were unaware…

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Aged-care system changes add to complexity

Private equity-backed financial planning firm Centric Wealth has warned that sweeping changes to the aged-care system will add further complexity for elderly Australians and their families, but create opportunities for financial advisers. The recently legislated aged-care reforms will introduce new carer and pension entitlement rules from July 1, 2014, and…

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Centric champions in-house solutions

Centric Wealth, the financial services company backed by CHAMP Private Equity, will develop new in-house investment solutions for financial advisers and their clients as part of plans to expand its product and services business. The group currently offers five investment funds including the Centric DHA Residential Property Fund, which recently…

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Kearns to tackle FoFA … and the sooner the better

Former Wallaby Phil Kearns has been in the hot seat at Centric Wealth for five months and reflects on industry reform and the road ahead. After seven years at Investec, Kearns felt the need for a new challenge and started his new role as CEO of Centric in December last year.

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CHAMPing at the bit

Backed by an ambitious venture capital partner, Centric Wealth aims to capitalise on a shake-up in the non-aligned sector. Simon Hoyle reports Within three years or so, Centric Wealth aims to increase in value by two to three times, according to its chairman, Philip Kelly. That growth will be partly…

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