Fortnum Private Wealth and its newly acquired advice business Professional Financial Services (PFS) will operate under a newly launched parent company brand, Entireti.
This CEO believes an “army of large, corporatised super firms” is the future of financial advice as he feels small-to-medium practices struggle to offer a compelling advice proposition.
The tripartite deal between Fortnum and AZ Next Generation Advisory, announced earlier this week, to acquire the financial advice arm of Australian Unity is a “reasonable fit”, according to Wealth Data.
Two firms have joined forces to acquire Australian Unity’s financial advice business, which includes 18 advisers alongside its corporate superannuation services business.