Recently, Genesis Financial made the exciting announcement that FDCTech had acquired the financial services company in a stock-for-stock transaction. As a long-time leader of wealth management and advisory services, FDCTech’s acquisition of Genesis Financial is expected to prove beneficial to FDCTech’s growth as well as thousands of Australian customers. Wayne Blazejczyk, a major shareholder of Genesis, sees the potential of the acquisition and believes it will provide valuable exposure for Genesis and allow them to reach new untapped markets. However, the question remains for many Genesis Financial shareholders, how will the transition change the day-to-day operations of FDCTech and Genesis Financial?
Based in Irvine, California, FDCTech, otherwise known as “FDC,” is a fintech company that offers a full suite of FX and Crypto technology, products, and business solutions. As a fully integrated financial technology company, FDC is known for prime brokerage solutions that enable brokers to boost sales more effectively, access opportunities, and limit unnecessary costs.
Genesis Financial Pre Acquisition
A seasoned wealth management and accounting advisory company, Genesis Financial is well-known throughout Australia for its wealth and investment management solutions, retirement planning, corporate employee benefits solutions, and estate planning. Genesis Financial provides exceptional online and in-person financial programs to consumers of all financial backgrounds. Genesis’s success stems from its ability to connect with its customers, develop a greater understanding of their financial aspirations, and build a tailored program to meet their individual needs.
FDCTech and Genesis Financial Post-Acquisition
According to the terms of LOI, once the acquisition is complete, FDCTech will acquire 100% of the securities of Genesis for a stock-for-stock transaction. At this time, Genesis shareholders will receive restricted shares from FDCTech. In the upcoming weeks, FDC will publicly disclose a variety of necessary information via press releases and/or SEC filings. One of the many reasons FDCTech chose to pursue acquiring Genesis Financial is because of its unique position within the American and Australian financial industry. According to Aite’s (2020) report, it is estimated that 10 million Austrian adults are underserved by the Australian Financial Advisors. In the months following the acquisition, FDCTech software development resources will be added to Genesis’s advisory services. This will not only help Genesis expand into Australia’s Independent Dealer Group business sector, but provide key financial services to under serviced Australian citizens.