Fitzpatricks Group has secured investment from private equity players, ensuring it remains free of institutional ownership.
The non-bank dealer group, which has 75 advisers across Australia, has entered into a capital funding partnership with Quadrant Private Equity and Yorkway Capital Partners.
The capital injection will help the licensee and its advisers reach more Australians for financial advice, said Fitzpatricks chief executive John McMurdo.
“Today’s news is exciting for our advisers, clients and our business partners as we secure the capital base and partners required to build a strong continuum of the Fitzpatrick’s renowned client-centric focus,” Mr McMurdo said.
“Achieving scale and realising the efficiencies and benefits it brings for clients is a central challenge for all professional services providers, particularly those who seek to remain outside of institutional ownership. We welcome into the partnership Quadrant and Yorkway, who identify strongly with our vision and the opportunity for Fitzpatricks.”
ifa has previously predicted an influx of private equity interest in the Australian IFA market: https://www.ifa.com.au/news/17552-private-equity-players-circle-financial-advice-sector
When financial failures occur and accountability can’t be pinpointed clearly, often it is the adviser that gets ...
When dealing with high-risk investment portfolios and platforms, it is important advisers manage expectations even when ...
Orbis Investments has added a new marketing head to extend its reach to advised retail investors as part of its “next ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin