MW Lomax Continuing Momentum in Australia
– MW Lomax Accelerates Growth In Less Than A Year After Focus Investment –
Melbourne, Australia – 3rd March, 2017 – 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, a Melbourne-Sydney based firm that partnered with Focus in May 2016. This strategic transaction clearly illustrates MW Lomax’s expansion throughout Australia and its intention to create a National brand.
With offices in Melbourne and Sydney, MW Lomax began its relationship with Focus 10 months ago hoping to further expand its geographic reach, and strengthen its regional presence and wealth management capabilities. This transaction with Westwood marks MW Lomax’s 10th acquisition and the first M&A deal post Focus transaction, and a significant step towards its next stage of business growth.
Westwood Managing Director Dominic Cronk commented on the merger as a “very exciting opportunity for our existing team to join forces with MW Lomax in offering our client centric, market leading services to a national, dynamic and fast growing group”. Westwood were advised by Greg Quinn of Chase Corporate Advisory.
“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 assisted by Martin Checketts of Mill Oakley Lawyers.
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 independent, 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 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 www.westwoodgroup.com.au