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Advice, tax firm ‘on expansion path’

A Queensland-based advice firm has announced it has expanded its business by merging with another advice practice, as well as purchasing clients from another business in a separate transaction.

Appointments Reporter 19 October 2016
— 1 minute read

Sherrin Partners said in a statement that the merger brings in Brisbane-based Medico Legal Insurance Group’s two advisers and one support staff, taking its total number of advisers and support staff to 20.

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The merger, combined with the acquisition of Lauder Financial Solutions’ clients, takes Sherrin Partners’ total funds under advice to $350 million and increases its gross revenue to around $4.5 million, the statement said.

The firm currently provides a range of wealth advice services, including SMSF advice.

Both Medico and Sherrin Partners operate under the ANZ-aligned Millennium3 licensee group.

Sherrin Partners managing director Jason Kirk said the merger is a great step forward and enhances the firm’s ability to deliver a more holistic advice service to clients.

“While we’ll operate under the Sherrin Partners brand, rolling out our existing business and advice processes to the whole group, we’re also looking to leverage some of the great experience and synergies that Medico Legal Insurance Group and Lauder Financial Solutions bring to this deal,” Mr Kirk said.

“Just one of those is our mutual commitment to servicing clients in intuitive and customised ways, which delivers the best experience for them.”

Millennium3 chief executive Matthew Brown commended Sherrin and Medico on the deal.

“This brings together two great businesses, who between them offer many years’ experience in advising everyday Australians on how to build their wealth, better plan for retirement and put in place adequate protection for themselves and their families,” Mr Brown said.

Advice, tax firm ‘on expansion path’
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