Fiducian to Acquire People’s Choice Financial Planning Business

November 22, 2021

On November 3, 2021, People’s Choice Credit Union announced that it had entered into an agreement to sell its financial planning business to Fiducian Financial Services.

Under the terms of the transaction, Fiducian Financial Services (“Fiducian”) will acquire the financial planning business of People’s Choice Credit Union (“People’s Choice”). Fiducian will pay $12.6 million to People’s Choice, of which 70 percent will be paid up front and the remaining amount will be paid after 12 months. The transaction, subject to customary closing conditions, is expected to close in the first quarter of 2022. Further terms of the deal were not disclosed.

Fiducian, based in Sydney, Australia, is an investment adviser providing fund management, financial planning, and other services. Fiducian has approximately $3.9 billion in assets under advisement.

People’s Choice, based in Adelaide, Australia, is member-owned credit union with approximately $9.7 billion in assets. Berkshire Global Advisors served as exclusive financial advisor to People’s Choice on the transaction.

To read the press release: please click here.


Investment Manager M&A, Transactions