Private wealth firm launched after Pitcher Partners buyout
A new Sydney wealth manager for high-net-worth individuals (HNWIs) has launched, formed from a buyout of multiple operational aspects of Pitcher Partners’ wealth management arm and run by experienced adviser Charlie Viola.
Viola Private Wealth will be run by founding partner Viola, chief executive Sean Ward, and chief operating officer Andrew Levi, and focus on bespoke solutions for HNWIs and their families.
Unlike many newly established firms, the systems and processes at the firm are already well-developed, thanks to an agreement with Pitcher Partners Sydney Wealth Management to purchase various operational aspects of the business.
The firm will maintain a strong relationship with Pitcher Partners – where Viola worked for 18 years – which will allow it to leverage Pitcher Partners’ accounting and tax services as they continue to work together, providing advice to mutual clients.
Some 40 per cent of Viola Private Wealth’s clients will be shared with Pitcher Partners where they will continue to receive tax planning and accountancy services.
Viola said: “Our core focus includes the ongoing management of client investment portfolios, as we have done for the last 20+ years and continuing to play our role as the client’s trusted adviser. Our role is always to give our clients the right advice, ensure they are well-structured and helping them protect and grow their wealth.
“We will continue to be high-touch, bespoke, and always acting in the best interests of the client.”
From Pitcher’s perspective, the deal will present an opportunity to grow its wealth practice for HNW individuals and align the service with its growing private business and family advisory (PBFA) practice.
To be called Pitcher Partners Sydney Private Wealth, the group will start with more than $1.2 billion in funds under management and will be led by existing Pitcher partners Martin Fowler and Jordan Kennedy, and principal Andrew Wilson.
Managing partner Adam Irwin said: “Charlie is an amazing operator and he has wanted to shape his own destiny for some time. This is an opportunity for him to build on his client book, but it is also an opportunity for our wealth management team to refocus our services on the needs of a broader group of individuals and families, including the affluence of clients across our PBFA practice.
“Our wealth practice will be focused on continuing to deliver great planning, investment and advisory services, as well as connecting with a broader group of Pitcher Partners clients to demonstrate the value of professional wealth management.”
AUTHOR
Laura Dew
Recommended for you
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.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
