John Prossor News Today

WT Financial Group’s acquisition of Synchron will improve efficiencies for advisers, according to chief executive Keith Cullen, as it creates the third-largest financial planning group in the country by adviser numbers.

WT Financial will become the new wealth giant, with funds under advice in excess of $16 billion, following its acquisition of Synchron. Wealth manager WT Financial Group (WTL) announced on Tuesday t

WT Financial Group is confident of future demand in the risk advice industry, backing Synchron’s future with a deal that could be worth up to $13 million, dependent on Synchron retaining advisers and revenue.

Combined business will have more than 600 advisers and A$16bn in funds under advice

WT Financial Group, the ASX-listed parent of Wealth Today, has acquired Australia’s largest privately-owned financial adviser group, Synchron for $7.96 million.

ASX-listed WT Financial Group will become Australia’s third largest financial adviser after it acquires rival Synchron for $8 million.