Rabo Financial Advisors (RFA) has acquired boutique group Mondo Financial as part of a plan to expand its footprint in the region.
The acquisition of the Sydney based planning group adds five advisers to RFA, including Mondo Financial's principal advisor David Owen, and brings RFA's total advisers to 17 and funds under management to $500 million.
In May, the wholly-owned subsidiary of Rabobank set up a two adviser operations in Perth which they are now looking to bolster. The group is also looking at acquisition opportunities in Queensland.
"After that there is South Australian and Victorian to look at," RFA general manager Colin Williams said.
"We have a lot of clients now that are based both in the country and Pitt Street farmers in the cities, who would like to deal with some one there."
RFA traditionally provided full-service financial advice to families and businesses operating in rural and regional NSW.
Mondo Financial previously operated as an authorised representative of the Lonsdale Financial Group, but will now trade under RFA's Australian Financial Services Licence.
