FDCTech Inc (FDCT)

[oldstocks]

The acquisition highlights include:

Topline growth with annualized forecasted revenue run-rate of over $5.91 million in fees from wealth management business.




$540 million funds under management (FUM) through approximately 28 licensed advisers with 20 offices across Australia.

Access to the Australian Financial Services License (AFSL) enables the Company to provide a wide variety of financial services, including but not limited to financial product advice for various asset classes and deal in financial products with retail and wholesale clients.

Access to the Australian wealth management market, the fourth-largest in the world valued at over $2.1 trillion, and other Association of Southeast Asian Nations (ASEAN), a group of ten nations with favorable trade and regulatory relationships with Australia.

A platform to execute the Company’s merger & acquisition strategy in the Australian independent dealer group and digital wealth management market to potentially add significant revenue growth, FUA, FUM, and other economies of scale.

“We have built our business around our clients by transforming their financial well-being through our highly educated and compliant focused financial advisors. As we merge with FDCTech, we will forge a digital wealth management company to reduce the cost to serve clients while providing comprehensive financial planning advice,” Jonathan Thomas, CEO, AD Advisory Services Pty Ltd.

“We are pleased to achieve this major milestone for the Company and our shareholders,” said Mitchell M. Eaglstein, Co-Founder and CEO, FDCTech. He further added, “The successful new direction will create new opportunities for the Company through cutting-edge digital financial tools that we will implement through our software development capabilities and ADS’ deep knowledge of the Australian wealth management industry.”

Please visit our SEC filings or Company’s website for more information on the full results and management’s plan.

About AD Advisory Services Pty Ltd.

AD Advisory Services – ACN 628 331 117/AFSL No. 237058, an independent specialist dealer group, provides licensing solutions for select education and compliance-focused financial advisors & accountants. ADS has a dedicated management team are qualified financial planners that service metro and regional practices around Australia.

https://www.otcmarkets.com/filing/html?id=15444593&guid=pGSwkFpcsZH3Oth