Matrix adds member firm; seeks more

Matrix Planning Solutions has added a new member firm to its network and outlined plans to add a further 10 practices nation-wide in the next couple of years, while also increasing its adviser count from 111 currently to 120 or more.

The new firm, Macquarie Partners Financial Advisory, is located in the Norwest Business Park in north-western Sydney and joined Matrix in late July. It was established two years ago by principal and sole adviser Sunhee Hres, who has nine years industry experience.

Under the member firm arrangement it will remain independently owned and Hres will retain her own client book, but the practice will be authorised through Matrix as the new licensee.

“What attracted us to Matrix was the focused boutique practice development support, extensive financial services experience within their senior executive team, and strong emphasis on compliance and investment product research,” Hres said.

Earlier this week, Matrix stated its shareholder- and adviser-supported intention to seek expressions of interest from an external investor to purchase the business, and stated a key reason for this was to provide the capital for further growth initiatives.

Matrix executive director of operations and strategic alliances Atit Rungta said Matrix has been very open with the practices it has spoken to and kept them informed of the group’s plans.