Charlie Viola, partner and adviser at Pitcher Partners Sydney, has officially launched Viola Private Wealth after acquiring key operational aspects of Pitcher Partners’ wealth management practice to establish his own firm.
Joining Viola – who will serve as executive chair – are Pitcher Partners’ Sean Ward and Andrew Levi, who will come on as CEO and COO, respectively.
According to a statement from the newly founded firm, Viola’s new business will focus on managing wealth for high-net-worth individuals and families, by providing bespoke solutions that simplify complex financial needs.
The new brand name, it said, reflects the firm’s dedication to the personalisation and exclusivity, “essential” for effectively serving clients with substantial financial portfolios.
“Our core focus includes the ongoing management of client investment portfolios, as we have done for the last 20-plus years and continuing to play our role as the client’s trusted adviser,” Viola said.
“Our role is always to give our clients the right advice, ensure they are well structured and helping them protect and growth their wealth.
“We will continue to be high touch, bespoke and always acting in the best interests of the client.”
Touching on how Viola Private Wealth is transitioning its client base, Viola explained that the firm is maintaining a strong partnership with Pitcher Partners, one which will allow the firm to leverage Pitcher Partners’ accounting and tax services as they continue to work together, providing advice to mutual clients.
“Approximately 40 per cent of our clients are shared with Pitcher Partners. Together, we will deliver a seamless service for our mutual clients, just as we have done over many years,” he said.
Separately, Pitcher Partners said the existing business is undergoing a revamp and will be known as Pitcher Partners Sydney Private Wealth. The group starts with more than $1.2 billion in funds under management and will be led by existing partners Martin Fowler and Jordan Kennedy and principal Andrew Wilson.
Managing partner Adam Irwin said the transition will be smooth, with no disruptions for the clients of Pitcher Partners Sydney Private Wealth or Viola Private Wealth.
“This is an opportunity for him to build on his client book, but it is also an opportunity for our wealth management team to refocus our services on the needs of a broader group of individuals and families, including the affluence of clients across our PBFA practice,” Irwin said.
“Our wealth practice will be focused on continuing to deliver great planning, investment and advisory services as well as connecting with a broader group of Pitcher Partners clients to demonstrate the value of professional wealth management.”
Viola was a key player in the creation of Pitcher Partners’ wealth division. In announcing the new practice on Friday, he took to LinkedIn to express pride in leaving Pitcher Partners with robust capabilities in this area.
“Twenty-one years ago, I lobbed into what was then Moore Stephens Sydney, where we had virtually no wealth business to speak of,” he wrote.
“Over the proceeding 21 years, a merger with Pitcher Partners and a wonderful working relationship with the partners, especially Martin Fowler, we built an incredible wealth business. I have received a heap of plaudits over the years, but it’s been the team behind me, and all those around me that allowed this to occur.”
