WT Financial (ASX:WTL) closes Millennium3 Financial acquisition

WT Financial Group acquired Millennium3 Financial Services from Insignia Financial (ASX:IFL).

M3's network comprises approximately 140 wealth and personal risk insurance advisers across 75 privately owned practices.

The acquisition is expected to contribute over $50 million in revenue, around $4.5 million in gross profit, and more than $500,000 of net profit before tax annually once fully integrated.

Following the deal, WT Financial's advised funds increased to approximately $23 billion, and in-force premiums rose to about $470 million.