John McMurdo

Fitzpatricks Group (the Group) yesterday announced a capital funding partnership agreement secured with Quadrant Private Equity and Yorkway Capital Partners to support the growth of Fitzpatricks as Australia’s leading, privately-held national provider of client-centric advice to successful families, business owners and high net worth individuals.

The Group has grown significantly in recent years into a truly national firm with more than 75 advisers across capital cities and other major centres. The Group has been a recipient of the flight to quality, as clients and professional advisers have opted to align themselves with the proposition of client-centric, financial advisory services delivered by a privately held, professional service style firm. This contrasts with the traditional bank and institutional offerings.

“The Fitzpatricks Group, through its Fitzpatricks Private Wealth business, sees the partnership with Quadrant and Yorkway as a vital step in realising a long-held ambition of the company’s founders to reach more people who might benefit from our unique offer of ethical, goals-based, client-centric financial advice,” said Fitzpatricks Chief Executive John McMurdo.

“Today’s news is exciting for our advisers, clients and our business partners as we secure the capital base and partners required to build a strong continuum of the Fitzpatrick’s renowned client-centric focus.

“Achieving scale and realising the efficiencies and benefits it brings for clients is a central challenge for all professional services providers, particularly those who seek to remain outside of institutional ownership. We welcome into the partnership Quadrant and Yorkway, who identify strongly with our vision and the opportunity for Fitzpatricks,” Mr McMurdo said.

Marcus Darville, Quadrant Managing Partner said: “Fitzpatricks has built a strong position in Australia’s wealth advisory sector. It is a genuine client-centric advice offering, and provides a highly credible alternative to the bank-owned and institutional wealth management companies.

“The firm continues to achieve strong growth as clients progressively opt for professional advisers. The partnership announced today brings benefits in the various opportunities we see to enhance the firm, building from its established and respected position and strong community of highly professional financial advisers,” he said.

Quadrant Partner, Alex Eady said: “We are thoroughly impressed with the calibre of both the advisers and the leadership, and we look forward to supporting the firm in its next phase of growth. The combination of growing Australian wealth, and the increasing need for high-quality financial advice, augurs well.

“In addition to the strong organic growth the firm continues to enjoy, we will undoubtedly be prepared to invest in further high-quality wealth advisory businesses,” he said.

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