The firm has struck a multi-merger deal with Financial 3 Wealth and Marsden Wealth Advisers, bringing four new financial advisers and around 300 clients to under its domain.
As part of the deal, Esencia has opened an office in the Brisbane CBD – the first outside its home state of NSW – from which the newly-merged team will operate.
A leader from each firm has also been appointed partner at Esencia; Financial 3 Wealth co-founder and managing director Travis Hinchy, and Marsden Wealth Advisers director and principal adviser Richard Marsden.
More appointments are also planned for the coming months following the deal, Esencia said.
Esencia Wealth chief executive Matthew Fenning said this merger marks the first major milestone toward reaching the firm’s Australia-wide expansion ambitions.
“Our expansion into Queensland represents a significant step in building a truly national advice business. Financial 3 Wealth and Marsden Wealth Advisers share our commitment to exceptional client service, a people-first culture, and an innovation mindset, making them ideal partners to lead the establishment of our presence in Queensland,” Fenning said.
“Travis and Richard bring deep client relationships and significant expertise to Esencia Wealth. Together with their teams, they exemplify the quality and client focus that defines our firm.”
This follows Esencia’s merger with Manly-based advice firm FMA Wealth in February, the first since Esencia was formed through a four-way merger of Advice Wise, Insight Private Wealth, Sovereign Wealth Partners, and Randle Advisory in 2024.
Hinchy said: “I am excited to join the Esencia Wealth team, whose culture aligns with the spirit that Financial 3 was built on – our clients can look forward to a continuity of service excellence and care.”
Marsden added: “Joining Esencia Wealth holds great appeal, as I can keep delivering a tailored client approach to helping clients achieve their financial goals, with the support of a dedicated team. I’m really pleased to be part of a business with a values-based leadership team steering us to achieve growth, while staying focused on quality.”
Speaking with Money Management earlier this year, Fenning said the firm had spent the two years since its formation building a solid foundation for the business and way now ready to take the Esencia brand national.
“We are looking to continue to grow into a brand that’s known throughout Australia, and to build a world-class business. To do that, it’s not just about laying the platform for today, you’ve got to be ready for tomorrow,” he said.
“Whether it’s FMA Wealth or its other businesses joining us, we need to be ready to be able to bring them on board and for that to be successful. So, we may have been quiet in the public domain, I suppose, but there’s a lot of work going on in the background to allow us to be able to do and bring together these partnerships. And these partnerships also take time to foster and to get to the point where you come together.”
At the time, he said the next move would see Esencia “head north”, seemingly hinting at this latest merger.
Though he has far reaching aspirations for Esencia, Fenning said the goal is to “be the best, not the biggest”. Even so, he is aiming for 10-fold growth in the number of clients Esencia serves, hoping to raise it from around 1,000 up to 10,0000 over the next five years.
