Shadforth PMD acquisition presages scale play

Insignia Financial-owned Shadforth Financial Group has grown its Victorian advice footprint via the acquisition of boutique financial advice firm, PMD Financial Advisers.

The company has flagged that the PMD transaction represents just the first in a number of acquisitions aimed at building scale.

The acquisition sees Shadforth pick up five staff and 400 clients, adding $700 million in funds under advice.

The company said the acquisition supported its broader strategy to build national scale.

Shadforth chief executive, Terry Dillon described it as a considered acquisition that aligns with the company’s growth ambitions.

“This is the first in a series of strategic acquisitions we’re pursuing to build national scale, enhance adviser capacity, and reinforce Shadforth’s position in the high-net-worth advice space,” he said..

“We’re seeing a growing demand for advice, driven by demographic shifts, economic complexity, and increasing intergenerational wealth planning. The addition of PMD strengthens our capabilities and supports our aspiration to be the last adviser any client ever needs.”