Wealth management firm Plan B Group Holdings Ltd has acquired mortgage broker Aspire Finance (WA) Pty Ltd through a combination of debt and equity.

Plan B said it would finance the acquisition of the fellow Perth-based company from its existing banking facility and the issue of 100,000 Plan B shares, worth $50,000 based on its share price at 1151 AEST of 50 cents.

"Aspire Finance's loan book of approximately $230 million, together with three contract loan writers, will add scale to Plan B Finance's current mortgage broking operation and increase its client service and business-writing capacity," Plan B said in a statement on Thursday.

Plan B managing director Denys Pearce said the company had searched extensively for an appropriate acquisition.

It said last month that its acquisition in February of Melbourne-based wealth advisory business Strategic Financial Management had helped to offset the effect of declines in the investment market.

Plan B has forecast 2008/09 financial year earnings of about $2.6 million to $2.8 million, down from $4.81 million for the previous fiscal year.