Key points
- WT Financial Group to acquire 70% of TNT Advisor Solutions
- Transaction valued at $3.48 million
- TNT's founders to retain 30% stake and remain involved in business
Full summary
WT Financial Group Limited (ASX: WTL) has announced the acquisition of a 70% interest in TNT Advisor Solutions, an Australian provider of premium onshore paraplanning services. The transaction, valued at $3.48 million, will be funded from WTL's existing cash holdings. TNT's founders, Tamara Morey, Tanya Higgins, and CEO Dela Dzadey, will retain a 30% stake and remain actively involved in the business. The acquisition aligns with WTL's strategy to build an ecosystem around privately owned advice practices by providing them with access to scalable specialist capabilities and resources.
Guidance
Transaction value of $3.48 million, completion expected shortly
Outlook
WTL expects demand for flexible outsourced paraplanning capacity to increase as advice practices seek to grow and scale their operations.