The Fitzpatricks Group has bought Retirement Victoria, an ANZ-aligned financial advice firm, for an undisclosed sum.
Melbourne-based Retirement Victoria offers retirement planning, financial planning and risk insurance services.
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The firm’s branding, licencing arrangements and existing client service team will be retained following the takeover.
Fitzpatricks managing director John McMurdo said: “Retirement Victoria now in its 16th year of operation delivers a strongly client centric, lifestyle based approach to financial planning, highly consistent with the approach and philosophy practiced by the Fitzpatricks group for many years.”
Retirement Victoria managing director Hugh Dickson will remain with the business for a few months for the transition process and then retire.
“The advisers and staff at Retirement Victoria are very much looking forward to the future journey with the Fitzpatricks Group and we are proud this advice approach is leading the future of the advice profession,” Dickson said.
The acquisition comes after a capital infusion from Quadrant Private Equity and Yorkway Capital Partners in Fitzpatricks.
