Azimut Group, an asset manager based in Italy, has acquired a financial adviser in Victoria, Australia.
Set up in 1983, Dunsford Financial Planning provides advice on pensions, insurance, estate planning and other issues.
The transaction, for a combination of cash and shares, was worth 6.1 million Australian dollars ($4.7 million) and was carried out by Azimut's local subsidiary, AZ Next Generation Advisory.
“We keep growing in Australia at a very solid pace adding valuable professionals to our team who will enable us to exploit every market opportunities we will come across,” said Sergio Albarelli, chief executive of Azimut Holding.
Azimut manages assets worth the equivalent of $4.7 billion in Australia and says it plans further growth, include acquisitions.
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