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People’s Choice Credit Union sells financial planning business
People’s Choice Credit Union has entered into a sales agreement with Fiducian Group to transfer its financial planning business.
Naomi Neilson
Firm: Piper Alderman (People’s Choice Credit Union)
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Deal: People’s Choice Credit Union entered into a sales agreement with specialist services organisation, Fiducian Group Limited, under which People’s Choice financial planning business, with approximately $1.1 billion in funds under advice, will be transferred to Fiducian.
Value: $1.1 billion.
Area: Finance.
Key players: The team was led by James Dickson and Liam Higgins.
Deal significance: People’s Choice is one of Australia’s largest credit unions with over 390,000 members, $9.7 billion in total assets, approximately 900 employees and branches in South Australia, Northern Territory and Victoria.
Commenting on the deal, Mr Dickson said: “We are pleased to have assisted our longstanding client People’s Choice in all aspects of this important strategic transaction and appreciate the efforts of everyone involved leading up to signing the deal.”
