People Moves

Netwealth Merges Acquisitions To Create National Dealer Group

Vanessa Doctor, Asia Correspondent, 21 March 2013

articleimage

Netwealth, the Australian wealth management firm, has created gathered the advisory firms it has acquired through the years under one national dealer group.

The new entity brings together Pathway Licensee Services, Financial Planning Services Australia and Bridgeport Financial Services - all of which were taken over in the last half decade. The three companies will retain their respective brands, but all existing general managers will now be reporting to Simon Micallef, head of the netwealth advice group.

"The new structure will enable and empower the group to utilise and leverage resources and ensure that skills are shared across the group for the benefit of all clients," said Michael Heine, managing director. 

FPSA has 65 advisors as clients, including 11 under Bridgeport, while Pathway counts around 1,200. Following a review of operations, the three companies will vacate their regional offices and occupy a merged head office in Sydney.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes