WTFG/Merchant JV accumulates more advice practices | Australian Markets

WT Financial Group has additional leveraged its three way partnership with Merchant Wealth Partners, launching a second vehicle to finance the acquisition of advice companies.

The company mentioned it had established a second vehicle (Hubco 2) to amass two companies, Select Advice Group and Newleaf Tailored Financial Solutions to be basis practices within the construction.

This follows on from the Joint Venture’s first foray (Hubco 1) which it mentioned it now been included as Titan Advice Group Pty Ltd which introduced collectively Titan Financial Planning, Darwin Financial & Retirement Services and Wealth Connect Financial Services.

It mentioned that the new construction had now govt a heads of settlement to amass 100% of Queensland-based financial advice firm Rushby Financial at a valuation of $2.8 million, noting that the vehicle is focusing on additional acquisitions.

Commenting on the progress of the JV, WT Financial managing director, Keith Cullen mentioned the partnerships represented landmark steps.

“They underscore WTL’s position at the centre of a high-growth investment platform and reflect our ability to identify and originate high-quality opportunities and help oversee their integration,” Cullens assist.

“Through Investco, we’re building a scalable platform, with each Hubco becoming a launchpad for further acquisitions and operational efficiencies that will enable advisers to thrive,” he mentioned.

Cullen mentioned the energy of the model was in partnering with bold advice practices, offering them with affected person capital in partnership with Merchant Wealth.

“We have a very powerful combination that we believe will deliver exceptional long-term value creation for both the practices we partner and WTL shareholders alike,” he mentioned.