Funds raised from the listing of WA-based financial planning group Plan B on July 20, will be used to expand the group's footprint nationally.

According to Plan B group managing director Denys Pearce, the group is looking to expand its reach through the eastern states by directly acquiring practices, while also launching a white labelling scheme for partner practices.

"One of the main reasons for the IPO is to raise the capital to do two things, make acquisitions on the eastern seaboard of Australia and in New Zealand, but also to develop a white label Plan B," Pearce said

The dealer group has already set up a test program for its white label Partnership Financial Services (PFS) scheme, with four eastern seaboard practices and three West Australian practices participating, while four are set to commence in New Zealand.

"PFS enables an independent financial advisory firm, who is looking for greater efficiencies in their businesses, to leverage the intellectual property and technology that Plan B has, but still retain ownership of their business and their clients."   

Those signing up to the groups PFS plan would have access to Plan B's administration and adviser support functions and investment systems.

"It allows those advisers to get back to what they love doing, and what allows them to create value in their business, that is, working with clients to help them deal with their lives," Pearce said.

Currently 80 per cent of the groups business is carried out in WA, while the group has made two acquisitions in New Zealand in the last twelve months.

Plan B currently has 50 planners with $1.6 billion in funds under management.