A Hawke’s Bay wealth management company makes its first move outside the Bay region with Wellington acquisition
Wealth management company Stewart Financial Group (SFG) has purchased a share in Wellington firm Red Wealth Managers, extending the company’s reach into the Capital City. The acquisition marks Stewart Groups first step in establishing offices outside the Hawke’s Bay region.
Stewart Group has $350 million of committed funds under mangement with director Nick Stewart explaining that the acquisition strenghtens their service and reach in the marketplace.
“Our acquisition of Red Wealth Managers is exciting on many levels. Red Wealth Managers has built a strong reputation for providing sound impartial wealth investment advice which is in-line with our business model and eithics. This will not only grow our client base, but also strengthen the depth, knowledge and experience of Stewart Group’s team.
“Stewart Group already has a number of clients in the Capital so we can now provide them with a higher level of face to face service from a solid base. Strong relationships are fundamental to our success and Red Wealth Managers owner Alan Burns is a long-time friend of our founding Principal Don Stewart. Alan has more than 45 years of exepreince as an adviser and will bring a wealth of knowledge to the business.” said Nick
The new entity is registered as Stewart Group Wellington Limited, but will continue to trade under the name Red Wealth Managers in the short term, before transitioning to the SFG brand in 2017.
“For our existing SFG clients, it’s business as usual. The SFG head office will stay in Hastings as a non-aligned, independently owned wealth management business. Alan will continue as the principle Wellington adviser, and nurture existing client relationships. The Red Wealth Managers name will be phased out over time and replaced with the SFG brand but the high level of service and impartial advice will continue,” added Nick.
The expansion follows on from the launch by SFG last June of Boutique Advisers Alliance (BAA) service. This is an adviser-to-adviser service that offers the efficiencies of SFG’s back office functionality. There are already seven firms across the North Island using the service.
Stewart Group has $350 million of committed funds under mangement with director Nick Stewart explaining that the acquisition strenghtens their service and reach in the marketplace.
“Our acquisition of Red Wealth Managers is exciting on many levels. Red Wealth Managers has built a strong reputation for providing sound impartial wealth investment advice which is in-line with our business model and eithics. This will not only grow our client base, but also strengthen the depth, knowledge and experience of Stewart Group’s team.
“Stewart Group already has a number of clients in the Capital so we can now provide them with a higher level of face to face service from a solid base. Strong relationships are fundamental to our success and Red Wealth Managers owner Alan Burns is a long-time friend of our founding Principal Don Stewart. Alan has more than 45 years of exepreince as an adviser and will bring a wealth of knowledge to the business.” said Nick
The new entity is registered as Stewart Group Wellington Limited, but will continue to trade under the name Red Wealth Managers in the short term, before transitioning to the SFG brand in 2017.
“For our existing SFG clients, it’s business as usual. The SFG head office will stay in Hastings as a non-aligned, independently owned wealth management business. Alan will continue as the principle Wellington adviser, and nurture existing client relationships. The Red Wealth Managers name will be phased out over time and replaced with the SFG brand but the high level of service and impartial advice will continue,” added Nick.
The expansion follows on from the launch by SFG last June of Boutique Advisers Alliance (BAA) service. This is an adviser-to-adviser service that offers the efficiencies of SFG’s back office functionality. There are already seven firms across the North Island using the service.
