There is every possibility that you have been directed to this letter via news of the ASX announcement that an agreement has been reached between Snowball Group and Western Pacific Group Holdings (Western Pacific) for Snowball Group to acquire Western Pacific Financial Group (WPFG).
As you would imagine, the boards and management of Snowball and Western Pacific have been working on this transaction for an extended period of time, and I can say that Western Pacific has become very familiar with the Snowball business.
Outlook Financial Solutions (Snowball’s existing financial planning business) and WPFG are highly complementary businesses in many areas, including geographic fit, in the business lines they are engaged in, and in the management and staff resources that they have.
Snowball’s management team will assume management control for the entire Western Pacific Financial Group, and they are committed to growing the Western Pacific business and brand alongside Outlook Financial Solutions.
The most important news I can give you, is that in regards to the Western Pacific client experience, there will be minimal changes from the merger. Your Western Pacific adviser and Western Pacific office will continue providing you with the high level of service and expertise you have come to expect. Specifically, there has been no change in the ownership of the Western Pacific financial planning practices, rather it is a change in the management team (Snowball Group) that will provide services to the practices. Further, Western Pacific Financial Group’s management team will merge with the Snowball management team to deliver an altogether stronger and better resourced financial planning business.
If you would like further information and have internet access, I recommend you refer to the ASX website where a more detailed ASX announcement from Snowball Group Pty Ltd (SNO) is available.
We will keep you informed of any further developments including a more comprehensive letter that all Western Pacific clients will be receiving next week, and you will no doubt talk to your adviser in due course.
Regards
David Guy
Chairman - Western Pacific Group Holdings
