Aussie wealth manager Shaw and Partners has made its entry into the New Zealand market with a 75 per cent acquisition of investment firm Investment Services Group (ISG).
The stake was acquired for NZ$67.5 million ($62.4 million), and the firm said ISG manages over NZ$7 billion in assets across wealth and funds management, as well as an investment platform.
Combined, this will bring total assets under advice close to $45 billion.
Shaw said the two firms share a client-first approach, strategic vision and diversified business model.
“This marks a key milestone for Shaw and Partners as it formally enters the New Zealand market and strengthens its presence across the region. The acquisition supports the firm’s broader trans-Tasman growth ambitions and creates opportunities to expand services and enhance client offerings,” the firm said.
“With a resilient revenue base and scalable infrastructure, ISG adds immediate strength to Shaw and Partners’ trans-Tasman footprint. The combined business is well-positioned for long-term growth and to deliver greater value across the region.”
The ISG business, which is headquartered in Auckland and has multiple regional offices, will report to Shaw and Partners’ chief executive Earl Evans. Its international wealth business JMI Wealth will rebrand to Shaw and Partners Financial Services, while its fund management arm Devon Funds will retain this title and continue to operate with NZ leadership.
Evans said: “ISG has built an exceptional reputation and platform in New Zealand, which they should be very proud of. This acquisition represents a powerful alignment of values, vision and opportunity. With their fully annuitised funds management business and a solid wealth advisory platform, this sets us up to take advantage of major growth opportunities across the trans-Tasman region.”
Paul Glass, executive chairman of ISG, added: “This partnership provides us with the scale, resources, and capital to accelerate our strategic objectives. We are particularly excited about the growth prospects this unlocks – not just for us, but for our clients, our teams, and the broader market.
“Partnering with Shaw and Partners allows us to expand without compromising the integrity and independence that are core to our success. Together, we see immense opportunity to grow.”
The transaction is subject to regulatory approval.
Shaw and Partners was first founded in 1987 as Shaw Stockbroking and rebranded some decades later in 2015 to Shaw and Partners. The rebrand involved more than just a name change as the business repositioned itself from a stockbroker to one focused on holistic financial advice, wealth management and corporate advisory.
It is a subsidiary of global private banking group EFG International, which first took a stake in 2019 and then expanded that to 100 per cent of Shaw and Partners in November 2021.
