FMA Wealth and its founder join Esencia in merger

Binaya Dahal

Editorial Intern, Financial Newswire

17 February 2026

Two years after launching through the merger of Advise Wise, Insight Private Wealth, Sovereign Wealth Partners and Randle Advisory, Esencia Wealth has now absorbed the Sydney-based boutique practice FMA Wealth, and appointed its founder Frank MacDonagh as Senior Financial Advisor and Advisory Board Member.

MacDonagh, who advised high net-worth and professional client base in FMA for 25 years, will continue the work under the Esencia banner while contributing to the firm’s strategy from the board as it seeks to scale nationally.

Chief Executive Officer at Esencia Wealth, Matthew Fenning said the merger with FMA Wealth showed the firm’s continued commitment to sustainable growth, built on exceptional people and deep client relationships.

“Over 18 months ago we launched Esencia Wealth, created out of a merger between four likeminded advice firms. Since then, we have been in talks with other quality firms looking to join a dynamic, future-focused advice business,” Fenning said.

“We are thrilled to welcome FMA Wealth and Frank, whose passion for his clients and personal values align perfectly with ours.”

MacDonagh, who ran FMA Wealth for 25 years, has experience spanning decades of client work and senior roles at major investment banks and consulting firms in Sydney, London, and Tokyo, including at Merrill Lynch and KPMG.

Upon his appointment and merger, MacDonagh said has been very impressed by Esencia Wealth’s dynamic approach and vision for the future of financial advice.

“The opportunity to contribute to the firm’s direction on the Advisory Board, and to work with a relationship-focused team, was incredibly compelling. I look forward to contributing to Esencia Wealth and to our clients’ continued success,” he said.

Esencia has further stated that MacDonagh’s appointment presents a valuable opportunity for team members to learn from an adviser recognised for leading by example, and to grow professionally.