Financial services firm Link Wealth has purchased a majority stake in Sky Advisers, representing its strategic expansion across the country.
Link Wealth’s 60 per cent stake in the Hobart-based financial advice business marks its entry into the Tasmanian market. Link Wealth’s existing offices are located in Melbourne, Sydney, Adelaide and Brisbane.
The partnership between the two advice businesses will focus on advising professionals and business owners in their wealth accumulation phase, who are typically aged between 30 and 55.
According to Link Wealth, the announcement signifies a “significant step” in its broader expansion strategy across Australia as it looks to collaborate with practices demonstrating strong growth potential and the right cultural fit.
Sky Advisers was established in 1985 and previously offered financial planning, general insurance, mortgage broking and accounting services under the name of CRC Financial Services. Now as Sky Advisers, the business focuses solely on financial planning advice.
Link Wealth managing director, Stephen Sloane, explained: “Our strategy isn’t just about growth – it’s about meaningful growth. When the opportunity to partner with Sky Advisers arose, we immediately saw their alignment with our values and vision.
“While Tasmania wasn’t initially on our radar, this partnership fits seamlessly into our long-term strategic objectives across the states.”
As part of the acquisition, Link Wealth will integrate its proprietary back-office solution, Levera Solutions, with Sky Advisers. This will streamline operations, drive further efficiencies and enable advisers to focus on client relationships while supporting business growth.
Sloane added: “With Levera’s support, we can rapidly scale operations, increasing adviser productivity and enabling practices to expand. The plan is to triple Sky Advisers’ business in the next year.”
The managing director said its strategic expansion across the country is only set to continue, hinting at plans to acquire additional businesses in Queensland, Victoria and other states.
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management previously explored the opportunities for advisers beyond the cities to meet burgeoning demand from regional clients.
“We’re just getting started. In the past 12 months, we’ve successfully acquired three firms, and we’re targeting another four in the coming year. Our goal is to empower advisory businesses with the resources, expertise, and operational efficiencies needed to thrive,” Sloane continued.
Daniel McCarthy, managing director of Sky Advisers, said the partnership with Link Wealth represents an “exciting new chapter” for its clients and team members.
“Their growth-oriented approach, underpinned by shared values, perfectly aligns with our vision for the future. We look forward to leveraging Link Wealth’s resources and expertise to enhance the services we offer,” McCarthy said.
