Stanford Brown buys Godfrey Pembroke advice firm
Sydney-based private wealth firm, Stanford Brown has acquired Godfrey Pembroke advice business, World Square Financial Services.
The acquisition, which would be expected to take Stanford Brown’s client funds under management to close to $1.5 billion, was a part of the strategy aimed at achieving balance between organic growth and acquisitions that would provide retiring principals an opportunity to transition their clients, the firm said.
Stanford’s chief executive, Jonathan Hoyle, described World Square as a “quality advice firm centred around high-touch customers service”
“We are very excited by the opportunity to be working with his clients,” he said.
World Square’s principal, Robert Wiggins, added: “They have a wonderfully young and vibrant culture; one to which my clients will relate well. Their philosophy of holistic and heroic client service is one that is closely aligned to my own.”
Recommended for you
The financial advice sector has benefited from a net rise of 11 advisers this week, according to Wealth Data, while AMP Group reports losses as several advisers open their own licensees.
Praemium has updated on the progress of its integration with platform OneVue, which it acquired from Iress earlier this year.
ASIC leadership has waded into the political debate about Qantas flight upgrades, confirming its executives hold membership of the Chairman’s Lounge but denying it affects their regulatory ability.
Perth advisory firm Capital Partners Private Wealth Advisers has announced a new managing director to take over from David Andrew as he steps down after 25 years.