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 & Wealth Management 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 Wealth Management 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 Wealth Management 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 Wealth Management.
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.
As part of the merger Prime gained a minority equity interest in a Wealth Management firm that deals directly with high net worth clients, not through an Accounting firm relationship. Prime subsequently acquired 100% of this Wealth Management firm consolidating the operations and creating a Prime’s Business to Consumer (B2C) offering which runs adjacent to Prime’s Business to Business (B2B) model with Accounting Firms.
In late 2016 Prime acquired a controlling equity interest (93%) in MPR Group (MPR), an Accounting & Advisory firm focused on innovation orientated Businesses and People where the service model includes specialising in Research & Development (R&D) Grants. In 2017 as part of completing Prime’s B2C model for Accounting & Business Services Prime acquired the remaining 7% of MPR it did not already own and rebranded MPR to Prime.
Today, Prime is an Integrated Accounting, Wealth Management and Capital Advisory Firm that operates a B2C direct client advice model and B2B partnership model with Accounting and Advisory firms.
Our vision is for clients to receive a complete Accounting, Wealth Management and Capital Advisory experience through Prime or one of our Partner Firms.