SMC Genesis Financial shareholder update on USA Expansion seeking to acquire Broker-Dealer and RIA business
SMCE, alongside its subsidiary Genesis Financial, is actively pursuing acquisition opportunities in the USA, having signed two term sheets and engaging in due diligence. The expected financial close for these transactions is within 60 days, aiming to enhance the company's funds under management (FUM) to approximately AUD$2 billion. The strategic acquisitions are anticipated to boost distribution and capital markets business, creating synergies between the US and Australian markets. This move positions SMCE as a key player in the financial services sector, enhancing its growth potential.
- Engaged a banker to seek strategic acquisitions in the US.
- Signed two term sheets and expects financial close within 60 days.
- Projections to have AUD$2 billion in funds under management post-acquisitions.
- Acquisitions aimed at increasing distribution and capital markets business.
- None.
Charleston, SC, Feb. 07, 2022 (GLOBE NEWSWIRE) -- SMCE and its wholly owned subsidiary Genesis Financial are activity seeking acquisition opportunities within the USA. The Company recently engaged a banker to find accretive acquirable US based opportunities. SMCE has signed two term sheets and is currently conducting extensive due diligence on the potential acquisitions. It is expected that financial close of the initial transactions will occur within 60 days
After completing the successful acquisitions SMC/Genesis will have approximately AUD
Erik Blum President of SMCE stated “Distribution is core to the expansion of our USA business and has been our immediate focus. The correlation between funds under management and expansion of growth is a key advantage when commencing a fund management business. The acquisitions will provide us a greater speed to market, while building FUM and allowing direct access to our platform.”
We are committed to the continued structure of our business to enable SMCE to be recognized as a significant player in the financial services sector and one of the few enterprises that has a Aust/USA coverage” said Chuck Provini, our Chairman.
Linking the USA to Australia
Australia and the United States are trusted trade and investment partners conducting US
· 27 years of uninterrupted economic growth -Australia's strong, diverse and growing economy adds up to more opportunities.
· Institutional strength - Strong institutions, an exceptional services sector and an ability to respond to global change.
· World-class innovation - Australia supports world- class, globally significant research and development opportunities.
· Investment focused - Superannuation system plus returns from mining and property have increased the Australian investment pool.
Australia a Gateway to the Asian Markets
Australia is also well-positioned in the world's fastest growing region, the Asia-Pacific. With strong trade links, strategic location, a favorable time zone and a highly educated, multilingual workforce, Australia is uniquely positioned as a location to do business in the Indo-Pacific.
US investment comes to Australia to invest in Asia-Pacific and Asian/Australian investment goes to the US to invest in opportunities in the world’s financial capital.
About Genesis Financial, Inc.
Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.
The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to
About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.
Press Release Contact:
Erik Blum
President
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com
Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
FAQ
What acquisition opportunities is SMCE pursuing in the USA?
When is the expected financial close for SMCE's acquisitions?
How much funds under management will SMCE have after its acquisitions?
What is the strategic importance of the acquisitions for SMCE?
