Wealth Architects has acquired regional advice firm PKF Wealth in Tamworth as part of its strategy to provide financial advice to regional communities.
The national advice firm has acquired shares in the current advice business at PKF Wealth Tamworth and will then partner with PKF to turn it into a successful financial planning practice.
The Tamworth firm joined the PKF network – which offers advisory, tax and audit services – back in 2015 to add depth to its service offering, and said the new partnership with Wealth Architects would broaden this further still.
Callum Mitchener, managing director at Wealth Architects, said: “Wealth Architects is excited to partner with global firm such as PKF, to ensure the local community has access to quality financial advice. We welcome Evan to the board of Wealth Architects Tamworth Pty Ltd, and looking forward to building a successful partnership into the future
“Our objective is to expand in and around the Tamworth region for financial planning services.”
Evan Brownsmith, partner at PKF New England North West, said: “Our partnership with Wealth Architects adds further capability and resources to our existing financial advice offering.
“We are grateful to be partnering with a top-quality service provider that has made a strong commitment to regional expansion. Wealth Architects blend technical proficiency with an understanding of how to serve regional clients, and we are excited to participate in their ongoing success.”
Earlier this year, Wealth Architects acquired two practices in regional Victoria – one in Swan Hill and one in Echuca – which saw around 1,200 clients move over to Wealth Architects. Overall, the firm has completed more than 15 acquisitions nationwide.
Mitchener said: “Country people are looking for help. These firms have a massive pipeline of new clients. They have people knocking down their door; there’s a year’s worth of work out there for them. It really blew our minds.
“These people have farms, and they want their kids educated on finances and dealing with the money in anticipation of taking over the business. In other cases, they want to sell the farm and want advice on that, or they have already sold, in some cases for millions of dollars, and they don’t know what to do with that cash.”
