MELBOURNE, Australia--(BUSINESS WIRE)--
MW Lomax and its international partner Focus Financial Partners (‘Focus’) today announced Brisbane-based wealth management firm Westwood Group (‘Westwood’) has joined forces with MW Lomax, creating a financial services powerhouse across the Queensland, Victoria and New South Wales regions.
With offices in Melbourne and Sydney, MW Lomax began its relationship with Focus 10 months ago to further extend its geographic reach and strengthen the firm’s wealth management capabilities. This transaction with Westwood is MW Lomax’s 10th acquisition and its first M&A deal following Focus’ investment. This marks a significant step towards driving the firm’s growth plan and developing its national reputation.
“MW Lomax shares our values in putting clients first and offering market-leading services. We are excited to join them to leverage each other’s resources and build a dynamic Australian brand together,” said Dominic Cronk, Founding Director at Westwood. Directors Dominic Cronk, Rebecca Stacey, Peter Rowsell, Brendan Alford and the rest of the Westwood team will continue to serve clients seamlessly as part of MW Lomax.
“This transaction will not only bring synergies in client services, but also facilitate a geographic expansion that will elevate the position of MW Lomax in the growing wealth and financial services market within Australia,” said Jon White, Group Managing Director at MW Lomax. “Focus has been of great assistance throughout the deal process and we are very excited about our alliance with Westwood.”
MW Lomax was advised by Martin Checketts of Mills Oakley; Westwood was advised by Matthew Burgess of View Legal Pty Ltd and Greg Quinn of Chase Corporate Advisory.
About MW Lomax
Founded in 2002, MW Lomax offers financial expertise across the areas of wealth management, accounting & tax, insurance and business advisory services. The firm provides clients across the greater Melbourne and Sydney regions with unconflicted advice and a holistic service offering. MW Lomax utilizes a planning process approach that incorporates wealth accumulation, preservation and diversification while managing risks through appropriate financial protection. For more information about MW Lomax, please visit www.mwlomax.com.au.
About Focus Financial Partners
Focus Financial Partners is a leading partnership of fiduciary wealth management firms. Focus provides superior access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with wealth management, benefits consulting and investment consulting services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices of a market leader to achieve their business objectives. For more information about Focus Financial Partners, please visit http://www.focusfinancialpartners.com.
About Westwood Group
Founded in 2003, The Westwood Group provides solutions to the complexities faced by busy professionals, executives and small and medium sized business owners. By taking on the role as ‘Personal CFO’, Westwood provides services across a broad range of areas including financial planning, investment management, accounting, and insurance and debt management. Westwood’s customized investment solutions are offered through its subsidiary Whitehaven Private Portfolios. For more information about Westwood, please visit http://westwoodgroup.com.au/