Australian Wealth Specialist Expands AuM, Adds To Team

Tom Burroughes

22 April 2016

, the Australian boutique serving high net worth individuals and family offices, has surpassed the A$250 million ($195.5 million) funds under advice mark after four years in business, and expects further growth by taking on managed accounts.

The firm has also appointed Chris Murray as a senior financial advisor. Formerly of CBA Private Clients, Murray works alongside founders John McIlroy and Tim Wedd and senior advisors Keith Verner and Chris Barrett. Murray has been providing personalised financial planning and investment advice for over 20 years.

Wedd, executive director, lauded the model of managed accounts.

“When we started this business, I used to say that managed accounts were being embraced primarily by higher net worth clients but they ‘should’ start to take off more widely. Now, I am working with advisors who are using managed accounts across a range of clients as well as HNWs and using integrated portfolio solutions such as ours to better manage tax and pension outcomes,” Wedd said.

“The tilt to international stocks is about the search for growth as well as getting a proper offshore weighting within portfolios. Client awareness and education about the need for diversification and long term growth opportunities continues to improve in an uncertain market,” Wedd continued.

The firm operates through Sydney, Melbourne and Adelaide.