Eureka Whittaker Macnaught acquires Warren McHattan practice

Greg Cook

Leading financial planning firm, Eureka Whittaker Macnaught, has acquired Warren McHattan’s financial planning practice at Parramatta in Sydney’s greater west. Both businesses are licensed through Financial Wisdom Limited, and this adds a fourth office to the growing Eureka Whittaker Macnaught business.

Eureka Whittaker Macnaught Chief Executive, Greg Cook, said he is delighted with the acquisition. “Our strategic plan is called ‘EWM 4.0’. We have thought about the advice business we would design if we were a 2019 start-up and we are on schedule to evolve Eureka Whitaker Macnaught to that model by December 2020. This adds to other changes we have made, such as moving to flat client fees in 2016. We are looking forward to making our Parramatta office a part of all that.”

Eureka Whittaker Macnaught has an enviable reputation in the profession, evidenced by another ‘podium finish’ in the Financial Planning Association (FPA)’s 2018 Professional Practice of the Year awards.

“Our strong balance sheet allows us to make these acquisitions with little risk, and practice principals like Warren know our acquisition process will be very professional, their clients will be in great hands, and their legacy respected,” Mr Cook said.

Eureka Whittaker Macnaught looks at numerous acquisition opportunities and Mr Cook said there are plenty to consider given the current FASEA-based generational change. “Warren’s business is a great fit for us, and we believe we can roll out a wider value proposition to its clientele. Warren and I have known each other for 27 years. As with getting advice, it’s great to deal with someone you know and trust.”

Warren’s support staff will join Eureka Whittaker Macnaught and over the next 18 months Warren will be introducing clients to the advice team at Eureka Whittaker Macnaught. “At the end of that period, after more than 30 years in the profession, Warren is looking forward to enjoying an active, long and well-deserved retirement,” Mr Cook said. “As a Parramatta Eels fan, I’m extra excited – I can walk to my BankWest Stadium Eels games from that office.”

Eureka Whittaker Macnaught offers Australian consumers financial advice across a range of speciality areas for every stage of the life cycle, including investment strategies, aged care advice, SMSF services and life risk services, to people who are just starting out on the journey towards wealth accumulation, right through to people who are retired.

The group has 10  financial planners in a team of 25 employees. Now with offices in Brisbane, the NSW Central Coast, Parramatta and the Sydney CBD, the business functions as a financial services hub, with strong connections to mortgage brokers, accountants and lawyers.

“This approach allows the business to take care of the complete financial needs of all our clients, while also providing opportunities for business clients to partner with industry professionals in a business capacity,” Mr Cook said.

In 2013, Eureka merged with Whittaker Macnaught and in 2015 became the founding Australian firm of AZ Next Generation Advisory.