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Stanford Brown acquires boutique financial advice firm

Non-aligned financial services firm Stanford Brown has acquired boutique financial planning firm, IMR Financial Advisors.

In a statement, Stanford Brown chief executive Jonathan Hoyle said that Ian MacRitchie, principal and founder of IMR Financial Advisors, chose Stanford Brown to be the successor for his firm.

"Ian has built a robust firm centred around high touch customer service, and we are very excited by the opportunity to be working with his clients," Mr Hoyle said.

"Ian had a clear vision of how he wanted his clients to be cared for into the future, which made connecting the similarities in the values of both firms a much easier task."

Mr Hoyle added that the acquisition of IMR is another "important milestone in our strategy to achieve a balance of organic growth and acquisitions that provide retiring Principals an opportunity to transition their clients to a firm that values customer service above all else".

Mr MacRitchie said he felt comfortable with the Stanford Brown team.

"They have a wonderfully young and vibrant culture; one that my clients will relate well [to]. I have been particularly impressed with the calibre and integrity of the Stanford Brown advisers," he said.

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"This was the most important factor for me in choosing my new home."

The acquisition of IMR will take Stanford Brown funds under management to approximately $1 billion.

Stanford Brown was previously a Genesys Wealth Advisers member firm before the group set up its own AFSL and its directors established a non-aligned dealer group, The Lunar Group, in April 2015.