Australian wealth manager Western Pacific Financial Group has acquired Melbourne-based advisor group, Financial Management Professionals Gro...

Australian wealth manager Western Pacific Financial Group has acquired Melbourne-based advisor group, Financial Management Professionals Group. The combined group will have A$300 million ($220.7 million) in funds under management. Western Pacific’s chief executive, Geoff Pritchard, told the local press that further acquisitions are planned throughout Australia. Western Pacific group deputy chairman, Tim Donohue, said the merged group will continue to focus its business on high net worth individuals. “FMPG have attracted a similar client profile to Western Pacific in providing wealth management and advice to high net worth individuals, so for all these reasons this acquisition will strengthen our reputation in the market.”