New partnership for Macquarie dealer group
Jane Watts
Macquarie Wealth Management’s affiliate dealer group Lachlan Wealth Management has announced CBD Financial Planning (CBDfp) as its first Sydney-based partner.
Having already partnered with two Melbourne dealer groups, this latest deal continues Macquarie Wealth Management’s focus on the Australian eastern seaboard and brings the total funds under advice to several billion dollars.
CBDfp caters primarily to high-net-worth individuals, as does Macquarie Wealth Management, with the Sydney-based practice also bringing its small Brisbane operation to the table.
CBDfp is headed up by two planners well-known in the Sydney market: John Darwin and Paul Heanly.
John Darwin explained that CBDfp made the decision to partner with Lachlan “because they will enable us to improve the quality of our service to our valued clients”.
“We need excellent dealership support, access to the best research and technical services along with a breadth of financial solutions that will help us meet all of our clients’ needs. We are gong to get that with Lachlan Wealth Management.”
Jane Watts, head of Macquarie Wealth Management, said CBDfp “have a working model that absolutely fits the culture and goals of Lachlan Wealth Management”.
“We are very excited that we will be working with CBDfp to help them take their business and their client service to the next level.”
Doug Webber, Macquarie Wealth Management’s associate director, said Lachlan is continuing to embark on a growth strategy, and is constantly on the lookout for financial planning businesses with a strong cultural alignment, which is a key criteria used in determining the compatibility of potential partners.
He also said Lachlan Wealth Management was particularly interested in partnering with successful businesses keen to leverage the Macquarie brand for further growth.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
