Financial planner makes latest acquisition

Financial planning firm Eureka Whittaker Macnaught has acquired Parramatta-based financial adviser Warren McHattan.

Both firms were licensed through Financial Wisdom and this was the fourth office in the Eureka Whittaker Macnaught business, which had 10 financial planners among its 25 employees.

Support staff will move over to Eureka Whittaker Macnaught, which offers a range of speciality financial advice, and its clients would be introduced to the advice team over the next 18 months.

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Chief executive, Greg Cook, said the acquisition was part of the firm’s transition to ‘EWM 4.0’ as it sought to update its advice business.

“We have thought about the advice business we would design if we were a 2019 start-up and we are on schedule to evolve Eureka Whitaker Macnaught to that model by December 2020. This adds to other changes we have made, such as moving to flat client fees in 2016. We are looking forward to making our Parramatta office a part of all that.

"Our strong balance sheet allows us to make these acquisitions with little risk, and practice principals like Warren know our acquisition process will be very professional, their clients will be in great hands, and their legacy respected.”

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