Hall & Wilcox advises Wealth Architects on majority stake acquisition by global insurance group

Hall & Wilcox advised Australian financial advisory business Wealth Architects on the acquisition of a majority stake by The Envest Group in Wealth Architects.

Wealth Architects is a privately owned boutique financial advisory practice that operates 14 offices across NSW, Victoria and Queensland.

Envest, a subsidiary of global insurance group The Ardonagh Group, is an insurance distribution business that has more than 450,000 customers across Australia and New Zealand. 

Envest has acquired a majority stake, which will expand Wealth Architect’s specialist risk advisory division, provide capital for further growth through M&A and give Wealth Architects access to Envest’s broader financial services distribution network. As part of the transaction, Wealth Architects acquired PSC Life, a life and disability insurance advisory business, which will strengthen Wealth Architects’ national footprint. 

The Hall & Wilcox team was led by Special Counsel James Bull and Partner James Morvell, assisted by Senior Associate Jasmine Koh and Lawyer Jayshiv Rewal. The team provided Wealth Architects comprehensive legal support on the transaction, from advising on and negotiating all transaction documents through to completion.

James Bull said, ‘We’re pleased to have assisted Wealth Architects on this transaction, which positions the business well for continued national growth, including through further acquisitions. It was a pleasure working alongside the outstanding team at Wealth Architects, together with their advisers Forvis Mazars.’

Wealth Architects CEO Callum Mitchener said, ‘It was a pleasure working alongside James and the team at Hall & Wilcox. They are extremely efficient, responsive and professional. The team also had a deep understanding of the financial service sector, which made the entire process run smoothly.’

This transaction adds to Hall & Wilcox’s significant experience acting on mergers and acquisitions in the financial planning and life insurance sectors.