Stanford Brown acquires IMR Financial Advisors
Sydney-based wealth management group Stanford Brown has acquired Ian MacRitchie's IMR Financial Advisors.
The transaction has been confirmed by Standford Brown chief executive, Jonathan Hoyle, who said MacRitchie had chosen Stanford Brown as the natural successor for his firm.
"Ian has built a robust firm centered around high touch customer service, and we are very excited by the opportunity to be working with his clients," he said.
"Ian had a clear vision of how he wanted his clients to be cared for into the future, which made connecting the similarities in the values of both firms a much easier task.
"We are also in awe of the incredible philanthropic work Ian and his wife Marionne have achieved through the Emerge Foundation. We will be providing them the support they need to continue their wonderful work," Hoyle said.
He said the acquisition of IMR represented an important milestone in his group's strategy to achieve a balance of organic growth and acquisitions that provided retiring principals with an opportunity to transition their clients to a firm that valued customer service.
MacRitchie said he felt comfortable with the Stanford Brown acquisition and the culture of the firm.
The acquisition of IMR will take Stanford Brown funds under management to approximately $1 billion.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
