Ironbark and Invest Blue merger to create diversified financial services powerhouse
David Stephen
Investment solutions provider Ironbark Asset Management (‘Ironbark’) and national financial advice firm Invest Blue have announced plans to merge and create one of Australia’s largest diversified financial services businesses.
Upon completion, the merged Ironbark and Invest Blue entity will have approximately $64 billion in funds under management, trusteeship, and advice (as of 30 June 2023). It will have more than 500 people, and offices in over 35 locations around Australia.
According to Chris Larsen, Ironbark’s Chief Executive Officer, the partnership brings together several areas of professional specialisation under one umbrella to meet evolving consumer needs and expectations while delivering an enhanced client experience.
“The client is at the forefront of everything that we do; be it, acting as professional trustee for funds and managed account solutions or partnering with best-in-class investment managers globally via our Investment Solutions business. With an existing and significant footprint in the advice market, this merger enhances our commitment to creating Australia’s largest independent diversified financial services business,” he said.
“In a competitive and fast-changing environment, we will be well positioned to take advantage of favourable themes, including increasing demand for advice and regulatory changes aimed at making advice more affordable and accessible.”
David Stephen, Invest Blue’s Managing Director, said the merger supported Invest Blue’s longstanding mission to empower people to live their best possible lives and aided the group’s goal to become the trusted home of great advice to over 60,000 clients in every major population centre in Australia.
“Our strategic partnership with Ironbark will provide capital, scale and expertise. It will accelerate our ability to enhance our value proposition to our clients, people and shareholders,” he said.
“For clients, we always look for ways to add value to ensure we deliver best-in-class advice, service and solutions. Our partnership with Ironbark will increase our ability to invest in our offer, systems and processes to enhance the client experience as we strive to become Australia’s trusted home of great advice.
“From a people and culture perspective, it will create opportunities for employees to explore varied and expanding roles and enable us to invest more in their professional development both in a leadership and technical capability, ensuring we remain a truly great place to work with ongoing industry-leading engagement.”
The merger is expected to be completed by the end of September 2023. Ironbark was exclusively advised by Berkshire Global Advisors.
