Planner Holdings, a subsidiary of managed discretionary account operator Managed Accounts Holdings, has bought a minority interest in Queensland-based advice firm Holman McGregor Financial Services (HMFS).
Managed Accounts Holdings executive chairman Don Sharp said the acquired firm was an ideal fit for Planner Holdings that aimed to provide to expansion capital to advisory firms with a large self-managed super fund client base.
“HMFS exemplifies the type of quality advice practice we're looking to partner with to drive and grow business efficiency,” Sharp said.
Noosaville-based HMFS was set up in 2003 and is licensed by GPS Wealth. It advises retirees and wealth accumulators between 35 and 50 years of age. The firm is run by Rob McGregor, who is a founder and director of GPS Wealth, and includes five staff.
“Planner Holdings will not seek to control or influence the board of HMFS or any future advisory firms it invests in but each business will remain independent. Rob and his team will run the business without any influence or conflict, and Planner Holdings will not have any control of day-to-day management,” Sharp added.
HMFS will also continue to utilise the principles, systems and processes offered by GPS Wealth.
“Our new relationship with Planner Holdings Limited has allowed us to restructure our ownership and positions us strongly for the future,” McGregor said.