POWERED BY MOMENTUM MEDIA
SMSF administrator acquired by Prime Financial
Advisory group Prime Financial Group has acquired Gold Coast self-managed super fund (SMSF) administrator Intello.
This would see Prime’s SMSF division represent 20% of group revenue and enhance the firm’s position as Australia’s largest SMSF administrator.
Including Intello, it provided services to over 4,000 SMSF accounts and was looking to grow this significantly.
The two firms said the acquisition would bring about material opportunities to deliver SMSF services for accounting and financial advisory firm intermediaries for its clients.
It would also help Prime to reach its target to double group revenue over three years from $26 million in FY22 to $50 million through organic and inorganic activity.
Intello chief executive, Kevin Nicol, would remain at the firm 12 months to support the team and clients.
Simon Madder, chairman and managing director, said: “We have a dedicated team of professionals and structure that is highly scalable and resourced for growth which combined with a material pipeline presents our team and firm with opportunities for accelerated growth.”
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
The research house has hired an experienced product specialist for its Australasian team.
An experienced communications specialist is joining the industry group in a newly created role.
The $46 billion investment corporation owned by the government of South Australia has hired an experienced investment professional to its leadership.
The $300 billion fund has appointed a new CRO to drive its governance capabilities.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
