Craigs Investment Partners has acquired Dunedin-based financial planning and wealth management firm Polson Higgs Wealth Management.
The move is interesting as it grows Craigs' financial planning operations and phwealth is aligned with Consilium which was recently acquired by FirstCape.
"Expanding into adjacent financial planning services to grow our wealth management offering is an important part of Craigs’ strategy and we are excited about the capability phwealth adds to our wider team,” Craigs Chief Executive Simon Tong says.
“The strength of phwealth’s financial planning and wealth management service is underpinned by its highly talented and motivated team. phwealth’s evidence-based, reliable approach to investing has been honed over 25 years.
Following the acquisition, phwealth will continue to operate its business as usual, alongside Craigs’ nationwide advisory network, as a Craigs company.
“We are attracted to the depth and breadth of phwealth’s financial planning and wealth management philosophy. We share a commitment to achieving great client outcomes and considering long term financial and life goals alongside each client’s unique circumstances and needs,” says Tong.
phwealth Chief Executive Rhodes Donald says, “phwealth and Craigs share a commitment to exceptional client experience and outcomes. phwealth advisers will continue to lead their client relationships and services, with Craigs adding national scale and global reach.”
“phwealth has a distinctly Otago and Canterbury origin story,” says Donald, “which is now boosted by the integration into Craigs. The future development of our business needed this shift. We couldn’t have asked for a better fit.”
Craigs’ Head of Private Wealth and Markets Jeremy Williamson said integration would happen over time.
“phwealth brings strong capability and experience in financial planning and we will work together to determine the most effective way to integrate our businesses over time to deliver the best outcomes for clients. Ultimately, this agreement will bring the best of both firms together to offer a broader range of financial planning and wealth management services.”
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