Sydney-based wealth management group Stanford Brown has acquired Ian MacRitchie’s IMR Financial Advisors.
The transaction has been confirmed by Standford Brown chief executive, Jonathan Hoyle, who said MacRitchie had chosen Stanford Brown as the natural successor for his firm.
“Ian has built a robust firm centered around high touch customer service, and we are very excited by the opportunity to be working with his clients,” he said.
“Ian had a clear vision of how he wanted his clients to be cared for into the future, which made connecting the similarities in the values of both firms a much easier task.
“We are also in awe of the incredible philanthropic work Ian and his wife Marionne have achieved through the Emerge Foundation. We will be providing them the support they need to continue their wonderful work,” Hoyle said.
He said the acquisition of IMR represented an important milestone in his group’s strategy to achieve a balance of organic growth and acquisitions that provided retiring principals with an opportunity to transition their clients to a firm that valued customer service.
MacRitchie said he felt comfortable with the Stanford Brown acquisition and the culture of the firm.
The acquisition of IMR will take Stanford Brown funds under management to approximately $1 billion.
