Advice firms merge to form group with $2.5bn under management

The merger, which the firms labelled as “a bold move set to reshape the financial advice landscape in Australia”, comes as a part of Coastal Advice’s ambitious expansion across Australia, following several acquisitions across the last two years.

Coastal Advice Group now has a presence in NSW, Victoria, South Australia and Western Australia.

The merger itself was facilitated with the backing of New York-based Merchant Wealth Partners.

“This is more than just scale for scale’s sake, it’s about expanding what’s possible,” said Daniel Brown, CEO of Coastal Advice Group. “The Calder Wealth team bring depth, talent and a fierce commitment to quality advice. Together, we’re building something better, stronger and ready to meet the evolving needs of Australians, wherever they reside.”

Calder Wealth Management, a privately owned financial advice firm with offices in Victoria and South Australia, has been in operation for over 50 years.

The newly merged group now oversees over $2.5 billion in funds under management.

Key developments and investments that have come from this merger, as highlighted by the group, includes new additions to the executive team, consisting of Michael Peters, Nicole Munday and Ben Calder.

Calder will also be joining the board alongside Brown and David Haintz, the head of Merchant Wealth Partners’ local subsidiary, Merchant Australia.

The partnership with Merchant Wealth Partners will continue to support the merged entity through growth capital, management resources and strategic advice.

“We’ve always believed in growing from within,” Calder said. “This merger gives our people greater opportunities to thrive – to step into leadership roles, access national resources and be part of something bigger, without losing the culture and values that make Calder Wealth special.

“We bring five decades of experience, a strong reputation and a team of passionate professionals – and now, with the scale and support of a national business, we’re in an even stronger position to deliver for our clients and shape the future of advice.”

Brown added: “This is the start of a new chapter – for our clients, our people and the profession. We’re not just building a bigger business. We’re building a better one.”

New York-based Merchant Wealth also took a non-controlling minority position in Coastal Advice back in February, with Haintz stating at the time that “In partnering with Coastal Advice, Merchant has now provided the capital to enable their growth to accelerate. Coastal Advice has the vision, the model and the entrepreneurial spirit to want to continue that growth.”