Wealthy and Wise sold

Another mid-sized financial planning firm has changed hands. The latest deal is that Darryl Edmonds has sold his shareholding in his North Shore firm Wealthy & Wise.

Thursday, October 5th 2006, 6:52AM

The firm, which has more than $80 million in funds under management, has been bought by existing Wealthy and Wise adviser Glen Reid along with Robert Kairua and Harvey Dixon from Global Pacific Investments.

This is the third firm in the past month to be sold. The other two are Strategic Asset Management and Rutherford Rede Northland.

Prior to Edmonds owning the business it was in the hands The new owners say there won't be "significant changes initially", however they aim to "rejuvenate (it) and add vitality."

Among their plans are ideas to offer a comprehensive, tiered service proposition, look at the use of wrap accounts where appropriate and doing some marketing work.

Reid is a Certified Financial Planner (CFP) with more than seven years experience who has previously worked as an adviser at Sterling Portfolio Management. Dixon has a CFP too, and has been working in the banking and financial services industries since 1970.

Wealthy and Wise was formed in 1995 by David Greenslade.

Edmonds acquired it in 1999 and has been consolidating in recent years with a strong emphasis on quality, simple advice and world class customer service.

Edmonds plans to take time out to assess his future career options.

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Wealthy and Wise sold

Another mid-sized financial planning firm has changed hands. The latest deal is that Darryl Edmonds has sold his shareholding in his North Shore firm Wealthy & Wise.

Thursday, October 5th 2006, 6:52AM

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