WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial advice firms.
Money Management
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The financial advice network has announced a $5.4 million underlying profit for FY2024–25, while its JV with Merchant Wealth Partners has made another investment.
IFA
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WT Financial Group has further leveraged its joint venture with Merchant Wealth Partners, launching a second vehicle to finance the acquisition of advice businesses.
Financial Newswire
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WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
Money Management
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The joint venture between WT Financial (WTL) and Merchant Wealth – Investco – has announced a fresh acquisition and the establishment of its second “Hubco”.
Financial Standard
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Publicly-listed WT Financial Group has flagged what it is describing as a “strong” indicative full-year result entailing a 17.2% increase in gross profit to $21.1 million.
Financial Newswire
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Licensees do not have enough funding or manpower to close the advice gap on their own and it will need a whole system effort, a panel has heard.
Professional Planner
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The advice industry will lose the best part of 1000 advisers come 1 January 2026, WT Financial Group managing director Keith Cullen believes.
Professional Planner
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Financial services industry stakeholders have expressed optimism that the newly sworn in Assistant Treasurer and Financial Services Minister enters the role with a “balanced view on the opportunities and challenges the sector faces”.
IFA
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Behavioural science has given us powerful tools to guide consumer decisions – tools that, in the right context, can help people make better choices. But when wielded by institutions with commercial interests, these tools can just as easily become instruments of manipulation.
IFA
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Licensees don’t expect the replacement of Statements of Advice with Client Advice Records will make a material difference and are split on whether the draft legislation is a positive step forward.
Professional Planner
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Merchant Wealth’s David Haintz has described how the firm differs from the traditional private equity ventures jumping into Australia, and why M&A isn’t like Married at First Sight.
Money Management
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The joint venture between the advice network and equity firm will invest $3.5 million in a three-firm merger.
IFA
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Just days after announcing its joint venture with private equity player, Merchant Wealth Partners, WT Financial has executive a heads of agreement brining together Titan Financial Planning, Darwin Financial & Retirement Services and Wealth Connect.
Financial Newswire
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WT Financial’s new entity with Merchant Wealth Partners, Investco, has entered into a heads of agreement to merge three financial advice firms.
Money Management
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Three WT Financial Group-licensed practices will merge with capital backing from the new joint venture with Merchant Capital Partners.
Professional Planner
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WT Financial Group (WTL) is consolidating three financial advice practices – Titan Financial Planning, Darwin Financial Services and Wealth Connect Financial Services – after announcing its joint venture with Merchant Wealth Partners this week.
Financial Standard
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IFA explores WT Financial Group’s evolving thinking on succession planning, with Keith Cullen highlighting the advantages of early mergers over the traditional practice sale model.
IFA
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Professional Planner covers WT Financial Group’s shift from a variable licensee fee structure to taking equity stakes in advice practices through a new joint venture with Merchant Wealth Partners.
Professional Planner
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Financial Newswire covers Merchant Wealth Partners’ entry into a joint venture with WT Financial Group, providing ‘patient capital’ to support the growth of financial advice businesses across Australia.
Financial Newswire
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Financial Standard reports on Keith Cullen’s appointment as managing director of Investco, a joint venture between WT Financial Group and Merchant Wealth Partners. The entity plans to invest in “hub entities” (Hubcos), representing high-revenue practices or groups of practices.
Financial Standard
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Money Management reports on WT Financial Group’s joint venture with Merchant Wealth Partners, forming WTL & MWP Investco Pty Ltd to provide strategic growth capital to high-potential financial advice practices across Australia. The article also highlights the appointment of David Haintz as executive director, a seasoned leader with extensive experience in financial planning and advisory services.
Money Management
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Money Management covers WT Financial Group’s joint venture with Merchant Wealth Partners, launching WTL & MWP Investco Pty Ltd to provide strategic growth capital to high-potential financial advice practices across Australia, with Keith Cullen appointed as managing director.
Money Management
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IFA covers WT Financial Group’s new joint venture with Merchant, a New York-based capital investment firm, aimed at providing long-term investments to support the growth of entrepreneurial advice practices.
IFA
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In this episode of The ifa Show, host Keith Ford is joined by WT Financial Group’s Managing Director, Keith Cullen, to break down the government’s recent adviser education reform announcement. They discuss what these changes mean for the industry and why a pragmatic approach is essential in creating pathways to bring in new advisers.
IFA
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Professional Planner highlights WT Financial Group Managing Director Keith Cullen’s upcoming appearance on the opening panel of the summit at Canberra’s Old Parliament House on 10-11 February. Cullen emphasises the need for advisers to take greater responsibility in advocating for themselves and their clients, rather than relying solely on industry associations.
Professional Planner
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Money Management reports that WT Financial Group Managing Director Keith Cullen believes “halcyon days” are ahead for financial advice, citing the supply-demand imbalance and the potential of artificial intelligence (AI) to enhance the profession.
Money Management
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Keith Cullen joins the IFA Magazine Podcast to discuss the recent passage of the first Delivering Better Financial Outcomes bill and the need to expand the advice profession.
IFA
The first Delivering Better Financial Outcomes bill has passed the Senate after the government bowed to industry pressure and amended controversial changes to s99FA of the Superannuation Industry (Supervision) Act.
Professional Planner
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The Super Members Council has drawn the ire of the financial advice community after it used “inflammatory and inaccurate language” to label advisers as “dodgy”.
IFA
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Appearing before the Senate economics committee, WT Financial managing director Keith Cullen has described the first tranche of the Quality of Advice Review (QAR) as a “ticking time bomb”.
Money Management
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Advisers are coming together to protest the government’s handling of key legislative and regulatory matters directly impacting the costs and availability of financial advice.
IFA
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The Australian life insurance sector is at a crossroads. Urgent structural reform driven by a vision for the future is critical for its survival and for the protection of Australian families.
IFA
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After a busy time which saw a number of mergers and acquisitions across advice firms, or attempted buys of peer groups at the licensee level, the market will see more consolidation within “like-minded practices” in those advice groups.
Professional Planner
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According to the newest members of the FSC board, advice networks having a “seat at the table” is a positive development for the profession.
IFA
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The Financial Services Council says it will strengthen its “advocacy on advice issues” with its expanded membership cohort.
IFA
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The head of a national licensee says that advisers need to “re-embrace personal risk insurance”.
IFA
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Despite reporting an indicative 57 per cent annual increase in revenue, WT Financial Group will maintain its focus on driving further growth with the practices in its network rather than “chasing” more advisers.
Professional Planner
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As a profession, advisers are significantly short-selling themselves, with many deterred by research around how much people are willing to pay for advice, according to WT Financial.
Money Management
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