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ALLEN, Texas and DENVER, Oct. 02, 2019 (GLOBE NEWSWIRE) — Financial Gravity Companies, Inc. (OTCQB:FGCO) (“Financial Gravity”) and Presidential Brokerage, Inc. (“Presidential”), a full service brokerage and wealth management firm, have entered into a definitive agreement under which Financial Gravity will acquire Presidential in an all-stock transaction.  Under the terms of the agreement, which has been unanimously approved by the Board of Directors at both firms, existing Financial Gravity shareholders will have a 50% ownership stake in the combined company, and existing Presidential shareholders will have a 50% ownership stake in the combined company on a fully diluted basis.

Synergies will come from the increased scale of the combined organizations, the sharing of best practices, the increase in ideas, financial innovation, organic growth, and cost reduction.

Scott Winters, CEO and Co-Chairman of the Board at Financial Gravity, said, “By bringing together these two symbiotic companies, we are creating a strong platform for the distribution of financial innovation, wealth management, and insurance services. It is our goal to build a nationwide network of financial advisor representatives. Our combined brands and business mean increased scale and synergies that will help us capture market share. We have the utmost respect for the Presidential team and look forward to working together as we integrate the two companies.”

Tony Campen, CEO of Presidential, said, “We are very much looking forward to the combined strength, leadership and business proposition that Financial Gravity brings to the table.”

Management and Governance
When the transaction closes, Scott Winters will continue to serve as CEO and Co-Chairman of the Board of Financial Gravity and, in addition, Scott will take on the role of Executive Director at Presidential. Any additions to the executive team for the combined company will be announced during the transition period, but no later than transaction closing.

Long-Term Ownership
Financial Gravity and its principals have a proven track record of scaling and growing successful firms. The current goal is to build significant shareholder value by driving financial innovation and serving the expanding needs of independent financial advisors.

Presidential Brokerage has a long, successful history in the Denver area, including a significant radio presence. It will continue to strengthen its position in the Independent Brokerage Industry by focusing on 4 key elements: practice management, client acquisition, financial innovation and entrepreneurialism. Presidential’s goal is breaking barriers to support financial advisors’ success.

Approvals
The transaction is subject to shareholder approval, receipt of regulatory approvals and other customary closing conditions, and is expected to close prior to year-end 2019.

ABOUT FINANCIAL GRAVITY
Founded in 2002, Financial Gravity (OTCQB:FGCO) has evolved into the innovative financial company it is today. Financial Gravity is a parent company that aims to bring together best of breed financial services companies including brokerage, wealth management, estate planning, family office services, risk management, business and personal tax planning, business consulting, and financial advisor services. Financial Gravity’s mission is to synergistically bring together companies that create symbiotic advantages to bring a complete financial experience to the clients that it serves. For more information, visit www.financialgravity.com

ABOUT PRESIDENTIAL BROKERAGE
Founded in 1991, Presidential Wealth Management is a full-service investment firm that has delivered investment advice, financial management, and financial planning services for over a quarter of a century. Presidential provides financial planning solutions designed to meet the needs of high-net worth clients, mass affluent households, and those who are just starting out. The company provides investment advice on income protection, wealth accumulation and retirement planning.

Forward-Looking Statements
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from the current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Financial Gravity’s business, and Financial Gravity undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact:
Michael Beaudoin
michael.beaudoin@financialgravity.com
800-588-3893