Previously owned by Australian Unity’s Australian Financial Services Licence holder, Personal Financial Services, Fortnum Private Wealth and AZ NGA acquired PFS in 2023, which then united under a parent company – Entireti – in May 2024.
More than a year on, Entireti has now relaunched the PFS brand under the new name Salita Portfolio Services, which the group said reflects the expansion of its investment management capabilities and growing support from the broader Entireti network.
This also marks, according to the group, the coming together and evolution of Entireti’s investment capabilities to offer streamlined implementation of investment advice while enhancing client outcomes.
As it stands, Salita represents some $5 billion in funds under management, providing portfolio solutions and investment advisory services to several businesses across the Entireti network.
Under this offering, Entireti’s licensed and self-licensed practices – including Akumin, Fortnum, Personal Financial Services, and Entireti Alliances – will have access to a range of actively managed, cost-effective separately managed accounts (SMA), such as accumulation, retirement and direct equities options.
Salita also offers portfolio management services, supporting practices to build bespoke private-label SMAs to align with clients’ specific investment needs.
Salita is supported by Entireti’s investment and research team, supported by the investment consulting capabilities of Lonsec Investment Solutions.
Speaking on the announcement, Neil Younger, group managing director at Entireti, said this rebrand marks the next step in the group’s commitment to supporting its network by driving better outcomes for advisers and their clients.
“Salita draws on the combined expertise, capabilities and track record of Personal Financial Services, Akumin and Fortnum to deliver a modern, scalable service that is focused on delivering quality portfolio solutions and a better experience for clients and advisers.”
John Carnevale, executive general manager of research and investment services, added: “Salita represents the coming together and evolution of Entireti’s investment capabilities to support all the licensed and self-licensed practices within the network.”
