Fitzpatricks in PE deal
Financial planning firm, Fitzpatricks Group has secured private equity funding to help drive further scale.
The company announced today that it had entered into a capital funding partnership agreement with Quadrant Private Equity and Yorkway Capital Partners to support its growth as “Australia’s leading, privately-held national provider of client-centric advice to successful families, business owners and high net worth individuals”.
The announcement said the group had grown significantly in recent years into a truly national firm with more than 75 advisers across capital cities and other major centres.
“The Fitzpatricks Group, through its Fitzpatricks Private Wealth business, sees the partnership with Quadrant and Yorkway as a vital step in realising a long-held ambition of the company’s founders to reach more people who might benefit from our unique offer of ethical, goals-based, client-centric financial advice,” Fitzpatricks chief executive, John McMurdo said.
“Achieving scale and realising the efficiencies and benefits it brings for clients is a central challenge for all professional services providers, particularly those who seek to remain outside of institutional ownership. We welcome into the partnership Quadrant and Yorkway, who identify strongly with our vision and the opportunity for Fitzpatricks,” he said.
Quadrant managing partner, Marcus Darvill said Fitzpatricks had built a strong position in Australia’s wealth advisory sector.
“It is a genuine client-centric advice offering, and provides a highly credible alternative to the bank-owned and institutional wealth management companies,” he said.
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.
