Wealth Architects, a leading Australian financial advice group, has secured a majority stake acquisition by Envest Group, a subsidiary of the global insurer Ardonagh Group. This move marks the latest wave of international interest in Australia’s financial advice sector.
The acquisition positions Wealth Architects, headquartered in Queensland, for accelerated growth, as the firm plans to expand its national reach. Envest Group, which stands as the largest privately-owned insurance distribution group in Australia, will provide Wealth Architects access to an extensive financial services distribution network. The deal is also set to enhance Wealth Architects’ specialist risk advisory division and supply additional capital for future mergers and acquisitions (M&A).
“We are thrilled with this deal, which gives us the financial runway to expand our business to meet the growing demand for reliable financial advice,” said Callum Mitchener, CEO of Wealth Architects. “This partnership allows us to expand nationally and further develop our specialist risk capabilities. It also creates an opportunity for us to welcome like-minded firms and advisers into the Wealth Architects Group to share in our success.”
As part of the transaction, Wealth Architects acquired PSC Life from Envest, with plans to merge the company into its operations by the end of the year. The acquisition is expected to complement Wealth Architects’ existing services and strengthen its offerings.
Leigh Quade, former principal of PSC Life, noted the benefits of the acquisition, saying, “The financial advice sector is experiencing a positive shift with improved regulatory sentiment and increased demand for quality advice. By joining Wealth Architects, we’re positioned to leverage the greater scale, efficiency, and rapid growth opportunities this deal brings for both our staff and clients.”
Wealth Architects has actively pursued growth through mergers and acquisitions, completing 14 deals since 2018, including several in regional Australia. With this latest acquisition, the company is poised for further expansion.
The leadership team at Wealth Architects will remain under the guidance of Mitchener, with principals Kim Siauw, Luke Considine, Quade, and Jay Brown joining the executive team.
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