WA practice acquires specialist bank advice arm

In a statement, Wealth Management Partners said it had acquired Police and Nurses Financial Planning (PNFP), the advice arm of the Police and Nurses Bank.

The settlement of the acquisition, confirmed on Tuesday, comes after the decision by PNFP to cease operating the financial planning business.

“For nearly 20 years, WMP has prided itself on providing quality advice and a high standard of service to our clients,” WMP managing partner Steve Beattie said.

“We’ve built a strong reputation which has seen us grow to become one of Western Australia’s largest self-licensed financial planning businesses, with a focus on retirement advice and a client base of more than 1,100 families.

“We are pleased that this reputation has ultimately led to WMP being selected to service PNFP’s clients and look forward to welcoming them to the WMP client family.”

Four advisers and six staff will make the move from PNFP to WMP via subsidiary company, WMPWA.

P&N Group general manager strategy and corporate development, Kim Radalj, confirmed that it has already found an “ideal purchaser” in WMP.

“As our PNFP Financial Advisers who are actively managing clients will be moving across to WMP, our clients will continue to receive quality financial advice and continuity of service provided by an experienced, authorised financial planning organisation, owned and operated right here in WA,” Mr Radalj said.

“Our clients will not need to do anything to move across.”

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.