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Calamatta Cuschieri set to acquire Financial Planning Services

Rene Rossignaud

Calamatta Cuschieri Investment Services Ltd (CCIS), is pleased to announce that it has reached an agreement to acquire Financial Planning Services Ltd. (FPS). The transaction is subject to a number of commercial conditions and regulatory approval.

Alan Cuschieri Co-CEO of the Group commented; “There were a number of reasons that made this acquisition attractive for CC. Increasing our assets under management and also increasing exposure to the Life insurance market through the existing book of business of FPS and also broadening further our offering through their Insurance Brokerage licence, however the single most important reason for us was the close cultural fit between FPS and CC. Both companies have been established for decades and have deeply embedded in their roots the values of providing honest, unbiased investment advice where the customer comes first. These values continue to be the single most important thing for CC today and keeping them alive requires people of high integrity, experience and knowledge and we welcome Matthew and Elaine Bonello to join our Financial Advisory Team.”

Matthew Bonello, managing director at Financial Planning Services commented, “Today marks an important milestone in our Company’s history as we herald in the opportunity to join forces with Calamatta Cuschieri. This strategic move will provide us with the necessary infrastructure to operate more effectively in the current financial services landscape. We will have at our disposal state-of-the art IT systems, on-line facilities, more products and services and an extensive research arm, allowing us to focus on spending more time with our long standing clients.

Financial Planning Services was set up in 1975 as the trading name of Mr Joseph G.P. Bonello, and became a Limited Liability Company on the 9th February 1977. The company has remained throughout the years a stalwart of the local stockbroking and life insurance industry.

Calamatta Cuschieri Investment Services Ltd. is part of the Calamatta Cuschieri Group, Malta’s largest independent financial services group that pioneered the local financial services industry from 1972. The Group currently employs more than 165 people, and offers a wide range of services including Investment Advice, Live Online Trading, Life Insurance, Savings Plans, Pensions, Wealth Management, Fund Administration and Marketing services amongst others. Calamatta Cuschieri is a founding member of the Malta Stock Exchange and the representative and distributor for UBS Funds in Malta. For more information please call on +356 25 688 688 or visit www.cc.com.mt