Piper Alderman advises People’s Choice Credit Union on the sale of its financial planning business
Piper Alderman was pleased to advise People’s Choice Credit Union (People’s Choice) on its entering into a sales agreement with specialist financial services organisation, Fiducian Group Limited (ASX:FID), under which People’s Choice’s financial planning business, with approximately $1.1bn in funds under advice, will be transferred to Fiducian.
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.
The Piper Alderman deal team, led by James Dickson and Liam Higgins, advised People’s Choice on all aspects of the transaction.
Taryn Shearn, Chief Legal Officer & Company Secretary of People’s Choice said:
“The agreement with Fiducian follows a thorough and detailed review into how to most effectively support our financial planning members over the long-term. The support provided by James Dickson and the team at Piper Alderman has been integral to the success of the transaction.”
James Dickson, Partner | Corporate of Piper Alderman, 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.”
Related media coverage
- Fiducian Group Limited’s Acquisition of People’s Choice Credit Union Financial Planning Business – Global Legal Chronical, 24 November 2021