Akambo Financial Group and First Financial wealth management firms have merged, a move they say will increase their capabilities in providing investment solutions to the advisory market.
The two brands would remain client facing but advisers could utilise the suite of services across both firms including accessing specialist professionals in areas such as private wealth management, investment teams and dealer services and licensing solutions.
Akambo managing director, Anthony Kapetanovic, said: “Chief executive of First Financial, Ben Rossi, and myself saw a clear opportunity to excel as market leaders in the new post-Royal Commission environment, where licensing and advice is under increased challenges and pressure”.
Kapetanovic said the new structure would service 3,000 clients across Australia, comprising over $3 billion of funds under management.
First Financial chief executive, Ben Rossi, said: “We are all trying to solve the same issues, as the landscape is quickly evolving, with the likes of technology playing a big role in how advisers are looking for and consuming information both locally and internationally.
“We are thrilled by the opportunities for further growth in the advisory space as advisers needs and wants are now changing in not only a post-Royal Commission but also a post-pandemic world.”