St Andrew’s acquires Whittaker Macnaught
St Andrew’s Australia has bought Queensland-based practice Whittaker Macnaught for an undisclosed sum.
The move comes as St Andrew’s plans to make the HBOS Australia wealth and insurance arm a national operation and grow funds under advice.
St Andrew’s managing director John Van Der Wielen said while the company is committed to organic growth, acquisitions would be made for strategic reasons.
“This acquisition significantly increases scale as well as substantially adding to our adviser teams in both volume and breadth of adviser experience,” he said.
“Importantly, it also gives us a presence in Queensland and access to a large client base, allowing us to offer products and services to Queenslanders who are HBOS customers through BankWest.”
Whittaker Macnaught has six offices in Queensland and $1.5 billion in funds under advice.
Recommended for you
Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply with determinations.
Channel Capital has appointed a head of investment oversight who joins from 14 years at asset consulting firm JANA Investment Advisers.
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
