Financial planning collective Best Advice Project has shelved plans to list on the Australian Securities Exchange (ASX).
"The listing has been deferred for the obvious reason that the market is so far down, the original objective is a bit pointless," Best Advice Project chief executive Tony Fenning told InvestorDaily.
"We have not lost any enthusiasm for it, but it is just a case of saying there is a level that really makes sense, and when that level returns, we will get it ready again."
Despite the postponement, Fenning said the group's expansion strategies are still on track.
Last month, the group completed the acquisition of new member firms Money Managers and Keysbrook Financial Services.
Best Advice Project has also renewed its contract with BT Wrap for an extended period.
"Things are on track but ... we have just got to sit it out and keep working away and wait until things get back to normal," he said.
"The other thing is we have launched, but not yet started, three wholesale funds with Dimensional Fund Advisers. That has been keeping us pretty busy and we intend to launch those prior to the end of the new year, all things being equal."
In February this year, the Best Advice project began the process of merging its 11 member practices.
The project member firms are: Arnheim Gillard and Partners, Gannon Growden Schonell and Associates, Guest McLeod, Heraud Harrison, Keysbrook Financial Services, Douglas Wenck, Ellwood Barry McPherson, Kilkenny Rose, Shadforths, Haintz and the Money Managers.
