SYDNEY: WT Financial Group Limited (ASX: WTL), one of Australia’s largest financial adviser networks, has entered into a groundbreaking 50/50 joint venture with New York-based investment firm Merchant Wealth Partners.
The partnership, operating under the newly formed entity WTL & MWP Investco Pty Ltd (Investco), aims to provide long-term growth capital and strategic support to financial advice practices across Australia, marking a significant shift toward corporatisation in the industry.
Unlike traditional private equity models, Investco will take minority stakes—typically between 20% and 40%—in high-potential advice businesses, ensuring founders retain control while benefiting from expansion resources. The venture will initially focus on firms within WTL’s established networks, including Wealth Today, Sentry Advice, Synchron Advice, and Millennium3, with scope to include external practices that align with its growth objectives.
Investco’s strategy centres on creating scalable “hub” entities, or Hubcos, which may comprise single practices or complementary groups with multi-million-dollar revenue potential. These hubs will receive funding and expertise to pursue organic growth, acquisitions, and niche market opportunities—such as retirement planning or advice for medical professionals—while maintaining flexibility in branding and local decision-making.
Keith Cullen, Founder and CEO of WTL and Managing Director of Investco, emphasised the venture’s potential to modernise the profession. “Entrepreneurial practices are increasingly seeking support for mergers and acquisitions as the sector evolves,” he said. “By combining WTL’s local expertise with Merchant’s global perspective and patient capital, we’re creating a unique platform for growth.”
David Haintz, AM, Partner at Merchant and Executive Director of Investco, highlighted Australia’s dynamic advice landscape as ripe for the initiative. “Our model has proven successful internationally by preserving the entrepreneurial spirit of firms while providing the capital and strategic backing they need to scale,” he said.
WTL will host an investor livestream on Monday, 7 April 2025, at 12:30 PM AEST to discuss the venture in detail. Participants can register via a dedicated Zoom link, with a presentation deck released ahead of the session.
WT Financial Group supports approximately 400 privately owned advice practices nationwide, while Merchant Wealth Partners has a global footprint, partnering with over 100 firms managing more than AUD$350 billion in assets across five countries.