Amplifi boosts advice business

Amplifi Group has bought the boutique Auckland-based advisory business Prosperity Partners founded by Trish Lynds.

Prosperity Partners will form part of Sage Wealth Management, Amplifi’s Auckland-based independent advice business. Lynds will continue to hold a client relationship position in Sage Wealth alongside administration manager Katie Visser.

Amplifi Group managing director Fred Ohlsson said the purchase advances its bid to build New Zealand’s pre-eminent independent investment and wealth management group of companies.

Prosperity Partners was established 30 years ago and offers clients independent investment advice specific to their personal needs.

Lynds says Amplifi aligns with the Prosperity Partners philosophy and independence.

"Katie and I will continue to support our clients and the transition into Sage Wealth. Sage senior wealth adviser Aga Krzeczkowska "has a wealth of knowledge and experience, and we have full confidence in the service she will continue to provide our clients.”

The acquisition and integration into Sage Wealth will allow Prosperity Partners clients to continue to have access to the personalised and independent investment advice they are accustomed to, she says.

Ohlsson says “there is a strong fit in philosophy and process. All Prosperity Partners client portfolios are tailored to individuals’ personal circumstances rather than one-size-fits all, and this is core to our independent Sage Wealth model. This acquisition is another step in Amplifi Group’s quest to grow and support independent financial advice”.

“We will continue to grow Sage Wealth, organically and through acquisitions, and its capability to provide independent financial advice is a great complement to both Mint Asset Management and Totara Wealth Management already under Amplifi Group”.

Amplifi Group was founded in late 2021 with the goal to build New Zealand’s pre-eminent independent investment and wealth management group of companies.

Comments from our readers

On 7 August 2023 at 1:18 pm John Milner said:

Great outcome for Trish but I am very uncomfortable with the amount of VIO’s emerging, while Australia is bailing out at light speed.
Please spare me the “it’s different here” mantra. That just belongs in a Tui ad.

On 7 August 2023 at 3:04 pm Pragmatic said:

Don’t stress @John Milner… the majority of VIOs without a clear value proposition fail globally… and will probably do the same locally. VIOs also requires scale - something that’s challenging to achieve in this part of the world.

On 9 August 2023 at 10:51 am coolrunnings said:

The NZ industry seems to be embarking on all the bad practices that were unearthed in the Australian Royal Commission some years ago. If this isn’t about building distribution networks and protecting FUM, then what is the purpose? Interesting that this is happening at at time when more and more offshore managers are now showing an interest in NZ and are heading over here to raise FUM…

On 9 August 2023 at 12:03 pm Rebecca Thomas said:

Gentlemen, I appreciate you reading the article and sharing your thoughts. Your comments would be valid if we were offering a vertically integrated model, however this is not the case. This expansion strategy is not designed around pushing Mint product. What we are providing is the opportunity for advisers to ensure their clients continue to receive the same advice proposition and chosen asset allocation approach, be that direct securities and/or a range of fund solutions. @John Milner @Pragmatic

On 10 August 2023 at 8:21 am Pragmatic said:

Thanks for the response @Rebecca Thomas. Other than facilitating a cash exit, time will determine an aggregator’s intentions & value proposition. As demonstrated in other jurisdictions, aggregation of financial advice often hits speed bumps in this relationship-centric industry and/or attracts media/regulatory attention for all the wrong reasons.

Amplifi boosts advice business

Amplifi, the parent of Mint Asset Management, has added a third advice firm to its business.

Monday, August 7th 2023, 8:40AM 5 Comments

Comments from our readers

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