Three acquisitions by Eureka Whittaker Macnaught
Financial advice firm, Eureka Whittaker Macnaught has announced three acquisitions and three mergers on a declared journey towards becoming a “super firm”.
The company, which was Fortnum Advice Practice of the Year in 2024 announced that it is close to completing the transactions which will lift the group’s annual revenue to $25 million whilst bringing employment numbers to 90 including 27 financial advisers across eight locations.
The acquisitions to be completed by EQM is MS Taylor Wealth Management led by partners Peter O’Callaghan and Daniel Shine, Financial Design, led by principal Helen Postle; and Your Wealthy Life, led by Megan Neale.
The acquisitions followed mergers with MTP Financial in Cairns in November and Wealthmed on the Sunshine Coast earlier this year.
Commenting on the developments, Eureka Whittaker Mcnaught chief executive, Greg Cook said the transactions would deliver scale and efficiency benefits along with increased capabilities.
“Scale is increasingly important in financial advice not only to achieve operational and cost benefits but to increase our ability to meet the growing public demand for professional advice,” he said.
“We are pursuing a super firm strategy and on this journey we’ve been able to expand our client value proposition, provide career development opportunities for team members, and free up advisers to spend more time in front of clients.”
Over the past few years, Eureka Whittaker Macnaught has bought a number of professional services inhouse including accounting, mortgage broking and aged care advice.
He said that, looking ahead, the group would sharpen its focus on opportunities to grow through mergers and acquisitions in NSW and other states.
“Around three quarters of our business is in Queensland and the remaining quarter is New South Wales but we see plenty of opportunities in New South Wales and other states and we are keen to partner with other advice businesses to continue growing and serving more clients,” Cook said.
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