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May 9, 2022

Amplifi Group acquires Tōtara Wealth Management

New Zealand-based financial services firm, Amplifi Group has acquired Totara Wealth Management, a Nelson-based advisory business, for an undisclosed amount.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The acquired entity was established in 2017 by Richard Harden and Meredith Cornelius by combining their independent advisory practises.

The firm secured a discretionary investment management services (DIMS) licence in 2017.

The deal marks Amplifi’s first acquisition. The firm was launched last year with the backing of Mint Asset Management and private equity firm Ascentro Capital Partners.

Amplifi is aiming to bring together a range of advice and investment businesses under its brand.

Amplifi head Fred Ohlsson said that Tōtara fits well with the Amplifi model of supporting professional independent advisory firms across NZ regions.

He added: “All portfolios are tailored to individuals’ personal circumstances rather than one-size-fits-all, a strategy that sets Tōtara Wealth apart and is central to the Amplifi model.”

As part of the deal, Mint chief Rebecca Thomas and Ohlsson joined Tōtara board.

Tōtara will continue to operate under its current brand and licence. Tōtara founders Richard Harden and Meredith Cornelius will continue with the business along with a new adviser, James Hunt.

The deal will allow Tōtara to benefit from Amplifi’s “deep resource base with increased research and compliance support” and establish a long-term plan for the business under a corporate model.

Ascentro holds approximately 30% holdings in Amplifi with the remainder held by parties affiliated with Mint.

Mint has about $ 1.7bn in assets under management including an almost $800m mandate with the NZ Superannuation Fund.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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