Macquarie-owned Lachlan Wealth Management has widened its offering to investors with the acquisition of Melbourne accountancy and auditing business, Smith, Peacock and Henshaw (SPH).
According to Lachlan Wealth Management and PMG Group principle Philip Pezzi, the move sees the group looking to provide a more holistic offering to the market place.
"Trends in the US market show that firms are increasingly looking to offer more value, meaning that professional services companies that incorporate financial planning, accountancy, mortgage and legal advice for example, are emerging," Pezzi said.
"This makes perfect sense to us. We believe the days of being solely an investment manager are short lived and that Australians will increasingly ask for more from their service provider."
SPH's two major partners Jim Sidon and Thomas Lee are staying with the group and, according to Macquarie, all SPH are remaining with the East-Melbourne practice.
The Lachlan Wealth Management dealer group was established in August 2005 by Macquarie Private Wealth, with Pezzi's PMG Group as the founding partner. It now incorporates practices in Sydney CBD, Brisbane CBD, Melbourne CBD and Mount Waverly, Victoria.
