Leading financial planner joins ComCorp Financial Advice

Leading financial planning dealer group, ComCorp Financial Advice is acquiring a regional NSW based financial planning company as part of its growth strategy.

Comcorp, a wholly owned subsidiary of MMC Contrarian Limited, has acquired 40 per cent of Berry Financial Services - founded and owned by Julie Berry CFP®, Chair of the Financial Planning Association (FPA) Board.

The acquisition is the first post MMC Contrarian's acquisition of ComCorp in April 2009. ComCorp now has more than $900 million funds under advice.

Demand for access to quality financial planners is growing, particularly in the Mid-North NSW Coast region, where Berry Financial Services is based.
This increased demand is largely a result of referrals through ComCorp's network of referral partners, such as credit unions.

ComCorp Managing Director, Alex Hutchison said "ComCorp has acquired an equity holding in Berry Financial Services to cater for the increasing demand for quality financial advice in the Mid-North Coast region, as a result of increased referrals from our credit union and other referral partners".

"ComCorp and its financial planners understand middle Australia, in particular Mum and Dad investors, and are committed to providing quality ongoing advice."

"ComCorp is committed to growing the company with a goal to provide consumers with a choice in who they trust to provide fee for service financial advice.

"In many ways ComCorp is ideally placed to provide a robust transparent structure for financial planners, as ComCorp does not have the structural conflicts of interest issues that bedevil some other participants in the financial services industry Mr Hutchison said.

ComCorp, a Principal Member of the FPA, is encouraging other financial advice practices to consider the prospect of joining the ComCorp dealer group.

The acquisition of a stake in Berry Financial Services epitomises the structure of Comcorp's business model - to acquire full or partial stakes in financial planning businesses and then to grow the business, at the same time providing access to referrals from our exclusive relationship with our referral partners.