Joe Akiki

Akambo expands managed account solutions to power adviser growth Leading financial services firm Akambo has relaunched as an investment management and asset consulting business, sharpening its focus on the fast-growing managed accounts sector.

Founded by former advisors almost 20 years ago, the firm has, for the first time, opened its institutional-grade managed accounts solutions to financial advisers outside its network.

“Our edge is that we’ve been advisers ourselves,” said Akambo Managing Director Joe Akiki. “We understand the practical challenges firms face because we’ve lived them – and that experience is embedded in every solution we deliver.”

Mr Akiki said the expansion positioned Akambo to meet the evolving needs of a larger pool of advice firms by lifting governance, streamlining operations, and improving efficiency and client outcomes – without adding complexity.

“Our mission has always been simple: to help advice firms scale with confidence, deliver greater value to their clients, and create businesses that are sustainable for the long term,” he said.

The relaunch comes as the advice profession undergoes rapid transformation, with adviser numbers halving in recent years and client demand soaring. “

The advice profession is evolving rapidly,” Mr Akiki said. “Firms are under pressure to do more with less, and they’re looking for practical solutions that deliver measurable outcomes. Our goal is to give advisers the tools and support they need to navigate this new landscape.”

Akambo’s leadership team of Mr Akiki, Executive Chairman Anthony Kapetanovic and Director and Chief Investment Officer Chris Willaton bring more than 80 years of combined finance industry experience to the table.

The firm has $5 billion in funds under management and projects this to grow to $20 billion over the next three years as it sharpens its focus on investment management and asset consulting.

Mr Kapetanovic said Akambo’s managed accounts were fully customisable and could be aligned to an advice firm’s investment philosophy, client segments, and platform preferences.

“Our managed accounts are built to scale with advice firms and integrate seamlessly with preferred platforms,” Mr Kapetanovic said. “We’re removing operational roadblocks and giving advisers more time to focus on clients.”

Mr Akiki added that Akambo approached every client relationship as a partnership.

We work shoulder-to-shoulder with advice firms to ensure our solutions genuinely integrate and deliver results,” he said.

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Michael Happell

Akambo, an integrated financial services business providing market leading investment solutions to the advisory market, has appointed Michael Happell non-executive Chairman and Kevin White a non-executive Director to the board of its holding company.

Akambo recently merged with the well-established wealth management firm First Financial to establish a powerful presence in the financial services space with 3,000 clients and $3 billion in funds under management (FUM).

Managing Director Anthony Kapetanovic says: “The advice industry is at the crossroads with pressure to attract advisers to the industry and provide end-to-end solutions to clients.

“In this competitive environment, the in-depth understanding and industry knowledge that Happell and White bring to the table will benefit the clients of Akambo and First Financial, making them invaluable assets in the merged company’s strategy to significantly expand over the next three to five years. Our goal is to grow significantly, both organically and via further mergers and acquisitions, over this timeframe.

“They will also play important roles in ensuring we lead the industry in best practice governance, reflecting one the key principles underpinning the merged entity – a 100% commitment to fulfilling our fiduciary obligations to our clients, knowing we are the custodians of their life savings.”

Happell and White have a combined 50 years’ experience in the financial services industry where both held leadership roles.

Happell recently retired from PricewaterhouseCoopers after 24 years, including four years as Chairman of the Australian firm, where he built a reputation as one of Australia’s top tax advisers. Current roles include President of the Melbourne Cricket Club, Chairman of Supra Capital and Director of two emerging IT companies, My Prosperity and Financial Crimes Solutions.

White brings to the board extensive knowledge of building and leading ASX listed companies, including Crowe Horwath Australasia and WHK Group, and, most recently, Freehills Patent Attorneys.

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