MyState is the latest financial services company to get out of financial planning, announcing yesterday that it has entered into an agreement to sell its client book to Fiducian Group.Fiducian, which has $2.7 billion of funds under advice and 40 practices, will pay $3.5 million for $340 million of FUA.MyState earned operating income of $1.7 million from financial planning in the December half - unchanged from the previous half and the previous corresponding period.MyState chief executive Milos Sulicich said in a statement: "This is a strategic move for the MyState Group which allows us to simplify our business and invest for growth in the areas where we can have a competitive advantage."The group's ongoing involvement in wealth management will be directed through its subsidiary Tasmanian Perpetual Trustees and will focus on trustee services and managed funds.MyState and Fiducian will enter into an ongoing referral arrangement, involving referrals from MyState to Fiducian for financial planning and from Fiducian to MyState for trustee services.