Melbourne advice firm acquired in strategic deal
Calder Wealth Management (CWM) has acquired a Melbourne-based financial planning business.
The firm, which has offices in Victoria and South Australia, has acquired Next Step PMD Financial Planning to strengthen its footprint in Victoria.
The acquisition includes the transfer of a substantial client portfolio, with Melbourne-based advisers and staff from Next Step PMD joining CWM. The transition will ensure continuity of personalised, professional advice, with minimal disruption for clients.
Ben Calder, managing director of CWM, said: “We are excited to welcome the clients and team of Next Step PMD to Calder Wealth Management. This acquisition represents a key step in our long-term strategy to expand our national presence and enhance our financial planning capabilities.”
The directors of Next Step PMD said they had valued being able to find an advice practice acquirer that would maintain the continuity and trust between the client and adviser. The aligned values and philosophy between the two firms was a “natural and strategic fit”, they said.
“Next Step PMD has known and admired Calder Wealth Management for over 30 years. Like us, CWM began in the early 1970s and shares a deep commitment to caring for clients over the long term. We believe CWM is the perfect home to continue the Next Step PMD legacy for our existing clients and the generations to come.
“It is often difficult to find a business partner that ensures continuity in the advice experience – and, more importantly, maintains the trust between client and adviser. Our longstanding relationship with CWM and their client-first approach gave us the confidence that this transition will protect and enhance the service our clients have come to expect.”
Last September, CWM acquired Adelaide financial planning firm Retirement Strategies, which was founded in 2002, as its director Ben Cheney was looking to step away from advice.
Detailing his decision to sell, Cheney said: “Leading this company has been an incredibly rewarding experience and I am grateful for the relationships I’ve built with more than 300 family groups over the years.
“The decision to step away for personal and family reasons has not been made lightly and comes with a mix of emotions, but I do it with full confidence that my clients will continue to receive top advice and support through Calder Wealth Management.”
AUTHOR
Laura Dew
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