The company began in 1998 as Prime Development Fund Ltd (PDF). The co-founders, who remain in the business today, are Simon Madder & Peter Madder who both came from the Accounting industry.
With a strong belief that Accountants were well positioned to deliver Financial Advice to clients as part of a totally ‘integrated’ Accounting & Financial Service, PDF was formed to deliver on this vision which remains in place today.
In 1999, PDF set up Primestock Securities Pty Ltd (Primestock), which holds the Australian Financial Services License No. 239180 and in 2000 Primestock started to enter into a series of Joint Ventures (JV’s) with Accounting Firms to provide Financial Services to the Accounting Firm clients. The first JV was formed with an Accounting Firm based in Victoria and since then the business has grown to establish over 30 different JV’s with Accounting Firms across the country.
As part of Prime’s strategy to deliver further value for Financial Services clients and Accounting Firm Partners, Prime’s Investment Strategy was expanded to incorporate investing in specific growth orientated Accounting Firm’s that Prime had already partnered with for Financial Services.
In 2006, PDF changed its name to Prime Financial Group Ltd (Prime) and in January 2007 Prime merged with an ASX listed company which was subsequently renamed Prime as part of the merger, today Prime trades under ASX code PFG.