PictureWealth acquires advice businesses SAA and FAA

Acquisitive Perth-based PictureWealth has finalised the acquisition of Superannuation Advice Australia and Financial Advice Australia.

PictureWealth chief executive, Allan Maitland confirmed the acquisitions to Financial Newswire saying that the move would see adviser numbers grow to 120, 40 of are directly employed.

“We are delighted to have finalised the acquisition of Superannuation Advice Australia and Financial Advice Australia,” Maitland said. “Both firms bring a highly skilled team of advisers, strong leadership, and dedicated client support staff, all focused on delivering exceptional advice and service to a growing client base across Australia.”

“PictureWealth remains committed to partnering with like-minded advice businesses that share our cultural values and passion to bring back more advice to more Australians,” he said.

The latest acquisitions follow on from PictureWealth last year acquiring Futuro and Insight Investment Services.

Superannuation Advice Australia and Financial Advice Australia are both based in Queensland, with SAA informing clients earlier this month that it had moved under the PictureWealth umbrella.