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July 5, 2022

Diverger acquires equity interest in McGregor Wealth Management

Australian financial service firm Diverger has taken a 38% equity stake in wealth management practice McGregor Wealth Management (MWM) through its wholly-owned subsidiary, Diverger Wealth Holdings.

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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 consideration for the deal consists of an initial payment of $506,855 in cash alongside a deferred consideration of up to $0.56m during the first 18 months, subject to agreed earnings targets.

Sydney-based MWM is licensed through Diverger-owned GPS Wealth. The firm specialises in personalised financial planning, wealth management, and advice services.

These include retirement planning, estate planning, superannuation advice, investment administration and asset protection strategies among other things.

The deal forms part of Diverger’s broader strategy to back multiple practices and offer additional resources that support their next phase of growth.

According to the firm, its strategic intent is to become “market leading provider of services to advisers.”

“Investment in growing adviser practices enhances the contribution to Diverger’s Wealth Solutions division through increased share of earnings and recurring cash dividends,” it said in a statement.

The latest deal comes a week after a non-binding indicative offer to purchase Centrepoint Alliance (CAF) in a cash and stock deal was turned down by the CAF board.

CAF said that the Diverger’s offer doesn’t “fairly reflects the strategic value of CAF”. However, the firm said it will meet with Diverger to discuss the offer this week and will update the market if needed.

Last month, Savant Wealth Management invested $3m in Sydney-headquartered fintech firm Lumiant, which provides an advice and ​client engagement platform.

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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