08 May 2005
Macquarie Wealth Management and Godfrey Pembroke Mount Waverley today announced they had signed a heads of agreement to form a partnership under Macquarie's new affiliate dealer group, Lachlan Wealth Management.
Godfrey Pembroke Mount Waverley is one of Australia's largest quality accredited financial planning corporatised businesses with more than $350 million funds under advice.
Head of Macquarie Wealth Management, Jane Watts, said having such a prestigious partner to be the founding member of Lachlan Wealth Management provided a superb benchmark for future partnerships.
Lachlan Wealth Management has been developed by Macquarie during the past year.
"We wanted to get the model and structure absolutely right and find a prominent and highly regarded partner before we launched the business," Ms Watts said.
The new dealership builds upon the existing infrastructure and expertise of Macquarie Wealth Management which is part of the Macquarie Financial Services Group.
The current business has $5bn assets under management and offers clients premium end financial advice, executive wealth management and direct investment services.
Ms Watts said Lachlan Wealth Management provides its partners with an excellent opportunity to leverage off the scale and proven infrastructure of Macquarie Wealth Management.
"The innovative solutions that we offer to the premium end of the advice market allows us to capture that niche in a way very few practices can," Ms Watts said.
Ms Watts said the 'affiliate' model is widely used in Australia's financial planning industry and tends to attract advisers who want to run their own business with the support of a major brand.
Lachlan Wealth Management's objective is to provide dealership support to financial planning businesses without interfering in the day to day running of the business.
At the same time, planning practices that link with the Lachlan dealership will have access to Macquarie’s technical and research, compliance support and integrated systems.
Godfrey Pembroke Mount Waverley, Chief Executive Officer Philip Pezzi said the new alliance with Macquarie was based on strongly aligned strategic objectives.
Mr Pezzi and his Board believes Macquarie, through its Lachlan Wealth Management dealer group, has the ability to help drive a joint strategy to rapidly grow their respective businesses and launch the delivery of pre-eminent investment strategic advice and services.
"The experience and infrastructure of Macquarie Wealth Management will provide us with a strong alliance and a firm basis from which we can launch our growth strategies," Mr Pezzi said.
The principals of the Mount Waverley company have more than 70 combined years of financial planning experience supported by an innovative, multi-disciplined and committed team of specialists. The business is one of the few financial planning firms that operate on a corporatised model.
"We are one of only a handful of financial consultant businesses in Australia which provides a truly integrated “cradle to grave” holistic service to our clients," Mr Pezzi said.
"Our comprehensive integrated office provides clients with guidance and the choice of the best-in-class service providers.
"We believe this move will align the business with a quality partner and drive our growth strategies going forward."
More information on Lachlan Wealth Management can be found at www.lachlanwm.com.au.
For further information, please telephone:
Head Macquarie Wealth Management
Mobile: 0412 121 777
Chief Executive Officer
Godgrey Pembroke Mt Waverley
Mobile: 0421 056 858
Head of PR & Communication
Macquarie Financial Services Group
Macquarie Funds Management Group
Tel: (612) 8232 3241
Mobile: (61) 417 260 309