Infocus has taken an undisclosed equity position in advice business Wealth Connexion in Brisbane, which will in turn acquire several retail practices formerly held by Infocus.
In a media release on Tuesday morning, Infocus group said this was the result of Infocus following the trend of dealer groups investing in their leading practices.
Infocus founder and managing director Darren Steinhardt said in a media release on Tuesday the firm is aiming to partner with advisers seeking growth and connect them with peers who are either at the beginning of their careers or preparing for retirement.
“Infocus will help these advisers connect their businesses under a single operating model, and then where relevant, we will help finance and drive their growth objectives,” he said.
“We want to grow, and help our advice partners grow, in tandem. We don’t want to be the biggest, but we do have a goal of being the best.”