LEADING Geelong business and wealth advisory firm LBW recently announced it had acquired the Geelong West SMSF arm of the Bendigo and Adelaide Bank.<\/p>\n
The acquisition of the Geelong West-based business will see LBW cement its place as one of Australia\u2019s largest regional providers of business and wealth advisory services.<\/p>\n
LBW Business & Wealth Advisors Principal Simon Flowers said he was thrilled to announce that they had been successful in the tender process.<\/p>\n
Mr Flowers described the purchase as a good news story for Geelong and an exciting new era for the locally owned firm, its staff and clients.<\/p>\n
While LBW has a long-established financial planning division, he said growing this side of the business was a strategic focus for the LBW Principals following a rebrand two years ago.<\/p>\n
\u201cThe acquisition gives us increased capacity through more planners, increased skills and a ready-made client base which complements what we already have,\u201d he explained.<\/p>\n
\u201cIt allows LBW to better service new and existing clients in regard to their superannuation and financial planning needs.<\/p>\n
\u201cIt also helps to accelerate the growth of our business in the financial planning space.\u201d<\/p>\n
Mr Flowers, who heads up the Wealth division at LBW, said LBW will look to provide some opportunities to Bendigo people and will undertake a selection process over the coming weeks.<\/p>\n
LBW has a long association with the original Wheelers business that was acquired in 2013 by Bendigo and Adelaide Bank. LBW actually modelled its Financial Planning business on the Wheelers operating model.<\/p>\n
\u201cWe believe the Geelong West business will fit in perfectly with LBW and the Bank\u2019s clients will see a seamless transition and an ability to call on the diverse range of skills and services our firm provides.\u201d<\/p>\n