Plan B shares closed up 40 cents on the group's first day of trading on the Australian Securities Exchange yesterday.

Opening at a 37.5 cent premium on its $1.00 offer price, the shares traded strongly all day reaching a high of $1.42.

The listing comes after the group successfully raised $30 million through its initial public offering (IPO), which was oversubscribed.

The WA based group has used the listing to help it reach the eastern states by directly acquiring practices, while also launching a white-labelling scheme for partner planners.

"The public listing allows us to leverage both past success and our unique integrated model to grow organically and through targeted acquisitions," Plan B managing director Denys Pearce said.

"We now look to identify and evaluate a number of acquisition opportunities that are philosophically aligned to the Plan B model and that will be earnings accretive.

"Successful integration of past acquisitions has shown our model to be scaleable and very attractive to a number of wealth management groups. The funds raised from the IPO will enable us to pursue these opportunities vigorously."

Plan B has forecast a 1c per share fully franked final dividend for FY07, the group's first return is expected in October, following the announcement of the final full year results.

The group also forecast total dividends for FY08 of 4.3c per share, subject to prospectus forecasts being met.