Coastal Advice Group has announced a significant expansion in its operations, aligning with its growth plan to become one of the country’s leading providers of financial planning advice.  

The group’s latest developments include acquiring two Financial Advice firms in Adelaide and an additional prominent Financial Advice firm in Port Macquarie.  

In a strategic move slated for December 2023, Coastal Advice Group is set to acquire RI Brighton, a respected firm welcoming Certified Financial Adviser, Steven Hampel into the fold.  

Steve brings an impressive 32 years of industry experience, enhancing Coastal Advice Group’s commitment to providing clients with unparalleled financial guidance.  

January 2024 marks another milestone as Coastal Advice Group secures the acquisition of Wealth for Life Financial Planning. This addition sees the inclusion of highly educated SMSF Specialist and Navy veteran Rex Whitford to the team, further diversifying the skill set within the organisation.  

For now, the final piece of this strategic puzzle will be the merger of an established firm in Port Macquarie early in the new year.   

This follows the acquisition of Newcastle’s Folio Private Wealth in June 2023 and the successful onboarding of the clients and key staff members.  

CEO of Coastal Advice Group, Daniel Brown said these strategic decisions have been a year in the making, and that the team is excited to begin collaborating with 3 new parties to grow their financial planning expertise.  

“We commenced this project earlier this year, to identify key partnerships between the Central Coast and the Gold Coast and our first look interstate,” Daniel said. 

“Our experience with acquiring or merging businesses in the last few years ensures we focus on the 3 key parties, the clients, the staff, and the vendor who may have a desire for a succession plan, joining the business as a shareholder or moving into retirement”.  

Upon completion of these transactions, Coastal Advice Group will boast a team of 15 Financial Advisers, with plans to expand further through strategic hires, bringing the estimated team size to 50. The firm will now service over 2,000 clients with Funds Under Management exceeding AUD  1 billion.  

As part of its commitment to professional development, Coastal Advice Group has internally promoted key positions to support the business’s scale.  

Specialised roles including an Advice Support Manager, Compliance Manager, Operations and Project Manager, and COO have been established to fortify the group’s foundation.  

Coastal Advice Group is also dedicated to nurturing talent within the industry, currently supporting four trainees who are Professional Year candidates. With a focus on internal growth, the company has already facilitated the development of two trainee advisers, underscoring its commitment to building a robust and skilled Advice Team.  

“We are extremely fortunate to have some incredibly talented people in our team in all different roles and I’m really excited about our new team members and shareholders joining the CAG team.” 

Looking ahead, Coastal Advice Group is finalising the acquisition of a lending business, emphasising the importance of addressing debt and cash flow –perceived as the cornerstones of Financial Advice.  

This strategic move aims to enhance the services delivered to Coastal Advice Group clients, aligning with the group’s overarching vision.  

IMAGE | Coastal Advice Group CEO, Daniel Brown.