Private wealth adviser Minchin Moore has announced it is to merge with Sydney-based firm Smythe Financial Management (SFM), effective 1 December.
The merger enables the two firms to service clients across generations from accumulation to retirement, providing a seamless continuous relationship with the same firm, according to SFM managing director and former Heffron SMSF Solutions director Ben Smythe.
Minchin Moore services high-affluent, retired parents while SFM looks after high-trajectory, professional children, who are on average 20 years younger than Minchin Moore’s clients.
“That’s been a question that my clients have asked in the sense that we traditionally build our business around accumulation clients,” Smythe said.
“So clients have often wondered what would happen when they retired. Would we be able to look after them?”
Minchin Moore managing partner Mark Minchin said given the different age demographics, Minchin Moore’s core competencies have centred on issues relevant to the affluent, such as managing and passing on wealth while SFM has focused more on cash flow and wealth accumulation.
“Through our merger, we create an enhanced capability to deal effectively with multiple generations – often within the same family group,” Minchin said.
Smythe said as a sole practitioner who established his business four and a half years ago and who now looks after about 100 families, it became increasingly difficult to grow.
“As a sole practitioner with a growing client base, I was finding that my time in front of clients was becoming more stretched,” he said.
“As a larger, more established business, Minchin Moore will provide my clients with access to a more robust service offering but also will allow me to continue to grow my business with confidence.”
Minchin Moore provides advice on various areas including investments, succession planning, superannuation, retirement modelling and self-managed superannuation funds.