Fiducian has announced the acquisition of MyState's retail financial planning business in Tasmania for A$3.5m in a move it said will allow it to focus on areas of competitive advantage. According to a statement to the ASX, the acquisition of MyState's advice business is expected to be earnings per share accretive for Fiducian and is planned to complete by 30 June 2019. The transaction will also see Fiducian and MyState enter into an ongoing referral arrangement that will involve ongoing referrals for the financial planning arm from MyState to Fiducian and home mortgage lending and tru...
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