Omniwealth picks up IFA firm

Ocean Wealth Management principal Pim John van Gestel said he made the move to Omniwealth because it is “the only dealer group that has an APL for direct investment that includes equities and direct residential property”.

Omniwealth has been in the market for growth opportunities, including a number of recent acquisitions and joint ventures, and managing director Matthew Kidd said its new authorised representative will build on this expansion.

“Being based in the eastern suburbs [of Sydney], Ocean Wealth Management gives us the geographical spread that we are looking for,” Mr Kidd said.

“Pim John’s advisory and business experience will bring a new dimension to the group and we are looking forward to working with him.”

Mr van Gestel said the flat fee structure and business support of the dealer group attracted him to the dealer group.

“My business has been growing significantly over the last couple of years,” Mr van Gestel said.

“In order for me to deliver the desired investment solutions to my clients I need a group that allows me the freedom to do so. Omniwealth Services allows me to deliver that.”