Melbourne-based PMG Group and Collins House Financial Services have joined forces to form a new wealth management firm called Lachlan Partners.
The new entity will employ around 80 staff including nine financial advisers.
"What we've really created with the Lachlan Partnership is a multi-disciplined practice now," Lachlan Partners group managing director Philip Pezzi said.
"So in essence we're providing a lot more direct equities advice rather than using fund managers, we have an audit division and a consultancy group and that just adds on to our property lending group that does property lending and advocacy," he added.
"If you look at our core businesses now they really centre around accounting and business advice, tax advice, audit, a special divisions for self managed super funds ... a direct investments division which is purely direct equities, and financial advice," Pezzi said.
The PMG Group's existing financial planners will continue to operate as authorised representatives of Lachlan Wealth Management, and will now be joined by the three planners from Collins House who previously had maintained their own Australian financial services licence.
Lachlan Partners is looking toward further expansion through organic growth and acquisitions and expects to be able to announce additional purchases later in the year.
Pezzi emphasised that the company's growth will not be based on pure head count numbers alone.
"The businesses that we acquire basically need to culturally be the right fit. Now whether that's 10 advisers or 50 advisers is not important," he said.
