Easton Investments, an Australian-based wealth management and investment business, has purchased a 19.9 per cent equity stake of AAM Advisory, an expatriate focused financial advisory firm, based in Singapore.

The move comes as Easton Investments is seeking to tap into Singapore’s growing wealth market, AAM Advisory said in a statement released yesterday.

AAM is licensed by the Monetary Authority of Singapore and provides financial advisory services and financial planning solutions to Singapore’s growing affluent, high net worth community and expatriates living in Singapore. According to the firm, since 2009, it has become one of the fastest growing financial advisory companies in Singapore, servicing more than 1,500 clients and with more than $200 million in assets under advisement.

“We are delighted to be partnering with Easton Investments as we enter our next stage of accelerated growth in the Singapore market. Singapore has become one of the top four financial centres globally and Asia’s premier wealth management hub,” said Matthew Dabbs, chief executive of AAM.

AAM said the partnership will not only bring significant investment for local business expansion but will be of particular benefit to the firm’s existing and future Australian clients - offering them the flexibility of a complete offshore and onshore advisory service from their time spent overseas until their return to Australia.

“With more than 20,000 Australian expatriates residing in Singapore and growing, this is an important growth segment for AAM,” the firm said.

Easton managing director, Campbell McComb added: “We have been exploring expanding into the Singapore market for some time now and it was a matter of finding the right partner. AAM has not only demonstrated strong growth in what has been a particularly difficult global market, but they have done so with the highest levels of systems and infrastructure which have been constantly improving.”

McCombe added: “We believe AAM’s proven track record, strong business model and highly experienced team will make a fantastic complement to our existing businesses within Easton Wealth Asia.”

The intended change in shareholding has been approved by the Monetary Authority of Singapore and is effective immediately.