BDO Wealth Management NSW joins Fitzpatricks
The former New South Wales BDO Wealth Management team has joined Fitzpatricks Private Wealth.
According to Sidney Lim, the former managing director of BDO Wealth Management NSW, the decision to join Fitzpatricks Private Wealth came after an extensive search during the past year.
He said the decision had been based, in part, on Fitzpatricks' advice approach and the investment management approach via Fitzpatricks subsidiary, Atrium Investment Management.
The NSW and Victorian BDO member firms were expelled from BDO International in March, with the parent company citing "unreasonable risk".
BDO International chief executive Martin van Roekel said in March that the financial stability of the Victoria and NSW BDO member firms was "in contrast to the rest of the BDO firms in Australia, which are performing extremely well".
Fitzpatricks Financial Group managing director John McMurdo said BDO NSW was the fifth practice to join Fitzpatricks this calendar year.
"Our group has grown from $1.25 million in funds under management to approaching $2 million since the beginning of the calendar year - both organically and with other member firms joining Fitzpatricks," McMurdo said.
Recommended for you
Insignia Financial has received a takeover bid from a second US firm, topping Bain Capital’s offer with a bid of $4.30 per share.
As the year comes to an end, Money Management takes a look at the biggest announcements that shocked the financial advice industry in 2024.
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
