Investment info firm completes acquisition of SA wealth practice
Investment information firm Equity Story has completed its acquisition of South Australian financial advisory and stockbroker Baker Young.
Equity Story’s chief executive Shane White said the acquisition will greatly expand the firm’s service offering and national reach, with plans to branch out beyond Baker Young’s existing offices currently located in South Australia, NSW and Queensland.
Baker Young operates a private client investment business with ASX-listed stocks execution and advice, portfolio management, wealth advisory, and corporate advisory. It also has more than $700 million in funds under management (FUM), including $180 million in managed discretionary accounts.
The firms announced in April that both parties had signed a binding heads of agreement regarding the transaction.
Equity Story has now acquired Baker Young for consideration of $4.2 million, comprising $3 million in upfront cash funded by a secured debt facility and a $1.2 million performance-based earn-out subject to the Baker Young business satisfying certain conditions over a 10-month post-completion period.
Baker Young will retain its branding, and co-founders Alan Young and David Baker will remain in key roles at the firm. The Baker Young division will be headed by Kristian Young who has served as the firm’s chief operating officer and a director for the past 20 years.
Formal handover of operation will occur on 1 August 2025.
For Baker Young’s existing clients, Equity Story said they will now have the added benefit of enhanced investment research and proprietary market insights, digital platforms and learning tools, broader investment solutions and access to capital opportunities, and a strengthened national presence.
To help support their growth plans, the acquisition also includes a profit-share model for Baker Young advisers and staff to “help attract more advisers as the Equity Story Group grows”.
Based on FY24 results, the firm said this transaction will boost the group’s revenue by more than 400 per cent, “underscoring its immediate impact and strategic value”.
Speaking on the announcement, White said this is a “game-changing moment” for the firm and its shareholders.
”The integration of Baker Young propels us into full-service wealth management, greatly increasing our recurring revenue, and positions us for national expansion,” the CEO said.
“We are building a diversified financial services group – founded on credibility and trust, boosted by technology, and focused on investor outcomes. Importantly, we welcome a team with extensive experience, a rich history of investor returns by a legacy brand, a strong client base, and a culture that aligns with our vision.”
AUTHOR
Shy-Ann Arkinstall
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